A derivative security of European style with expiration in 1 year has this payoff: max (0, - max (K-S, S-3K)), where K = 10 is the strike price and S is the price of the underlying stock at expiration. The stock currently trades at 25, and the following prices for European calls on the stock are known (all expiring in 1 year): Strike Price 10 15.39 20 6.47 30 1.65 3. Draw the graph of the payoff as a function of S. (Hint: Start with drawing the graphs of (K-5) and of (5 - 3K) in a scrap page and see how you understand the inner max function from there. A negative "max" means you flip the "max" function over x-axis. Then proceed to solve the problem.) A derivative security of European style with expiration in 1 year has this payoff: max (0, - max (K-S, S-3K)), where K = 10 is the strike price and S is the price of the underlying stock at expiration. The stock currently trades at 25, and the following prices for European calls on the stock are known (all expiring in 1 year): Strike Price 10 15.39 20 6.47 30 1.65 3. Draw the graph of the payoff as a function of S. (Hint: Start with drawing the graphs of (K-5) and of (5 - 3K) in a scrap page and see how you understand the inner max function from there. A negative "max" means you flip the "max" function over x-axis. Then proceed to solve the problem.)