12.2. A chooser option is an exotic option that pays the maximum of a call and a put at time t. Both the call and the put have the same terms and expire at time T. You purchase a chooser option to purchase the maximum of a one year European call or a one year European put in six months (so t = 0.5 and T = 1.5) both options are European and have strike 22. The underlying asset has the following characteristics: S(0) = 20, 8 = 0.04, and o = 0.25. In addition, the risk free rate is r = 0.08. How much does this option cost? 12.2. A chooser option is an exotic option that pays the maximum of a call and a put at time t. Both the call and the put have the same terms and expire at time T. You purchase a chooser option to purchase the maximum of a one year European call or a one year European put in six months (so t = 0.5 and T = 1.5) both options are European and have strike 22. The underlying asset has the following characteristics: S(0) = 20, 8 = 0.04, and o = 0.25. In addition, the risk free rate is r = 0.08. How much does this option cost