Calculate the value of a 3-month at-the-money European call option on a stock index when the index is at 250, the risk-free interest rate is 10% per annum, the volatility of the indes is 18% per annum, and the dividend yield on the indes is 3% per annum. 14.8 Consider an American call futures option where the futures contract and the option contract expire at the same time. Under what circumstances is the futures option worth more than the corresponding American option on the underlying asset