7. Suppose a call option contract on April live cattle futures with a strike price of 70 cents per pound has a futures price of 75 cents. Each contract is for the delivery of 40,000 pounds. Its volatility is 20% per annum, and a risk-free interest rate is 10% per annum. What would be the probability that the futures price moves upward for a 365-day European call on the futures (for a one-period binomial tree model)? [Please answer to FOUR decimal places and use T = # of days/365] 7. Suppose a call option contract on April live cattle futures with a strike price of 70 cents per pound has a futures price of 75 cents. Each contract is for the delivery of 40,000 pounds. Its volatility is 20% per annum, and a risk-free interest rate is 10% per annum. What would be the probability that the futures price moves upward for a 365-day European call on the futures (for a one-period binomial tree model)? [Please answer to FOUR decimal places and use T = # of days/365]