3. The symbols in this problem are as defined by the textbook for the binomial model with single step. This problem is about the portfolio replicating a European call option. See, for example, Exercise 6.3, p. 151. Suppose that the following are given: S(O), X.U, DR, and the transaction cost as a fraction of the stock price is c i.e., the seller receives S(0)1 - for each stock. Of course, D