6. A standard chooser option (or called as-you-like-it option) entitles the holder to choose, at a predetermined time T in the future, whether the To-maturity option is a standard European call or put with a common strike price K for the remaining time to expiration T. -T. The payoff of the chooser option on the date of choice T is V(Sr, T') = max(CE(Sr, T; K, T.), PE(Sr,T; K,T.)), where Ca(Sr, T, K, T.) and PE(Sr, T; K.T.) are the European call and put option prices with strike price K and maturity T., respectively, at time T with stock price Sr. (a) Show that the chooser option is equivalent to the combination of one call (with strike price K, and maturity Ti) and 2 units of put (with strike price K2 and maturity T2). Specify K1, T1, 3, K2, and T2. (b) Use the Black-Scholes formula to give the value of the chooser option at time t, where t