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3. Consider a one-period binomial model, where each period corresponds to a year. The risk-free interest rate is 5% per annum. Let q=0.3675 be the

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3. Consider a one-period binomial model, where each period corresponds to a year. The risk-free interest rate is 5% per annum. Let q=0.3675 be the risk-neutral probability of an up move. What (to the nearest cent) is the price of a one-year European call option with strike price of $50, if the underlying asset is currently trading at \$32 and will in the next year be either \$64 or \$16

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