A share is currently selling at $100. The price of this share may go up to $110 or it may go down to $90 during the next three months. The exercise price of this share is $100. The current risk-free rate of return is 12%. Using the above information, answer the following questions: i. What is the probability that share price will go up to $110 during the next three months? ii. What is the current value of a European call option on this share? iii. Assume you hold 100 call options on this share. If the current market price of the option is $6.37, are there any arbitrage opportunities? If there are arbitrage opportunities, perform calculations to show the excess rate of return you could earn from the arbitrage.