a) Define and explain the numerical method of the binomial tree. Give an example of the pricing of a call using two periods. b) Is there Is there a relationship between the binomial tree and the formula of Black Scholes Merton (1975)? c) Is the binomial tree useful for calculating US dividend-bearing options. Give an example of a calculation. d) Explain the concept of probability *** on risk in relation to the concept of usual probability.