A stock is selling today for $77. The stock has an annual volatility of 37 percent and the annual risk-free interest rate is 7 percent. A 21 month European put option with an exercise price of $81 is available to an investor. a. Use Excels data table feature to construct a Two-Way Data Table to demonstrate the impact of the exercise price and the options duration on the price of this put option: i. Option durations of 4 months, 8 months, 12 months, 16 months, and 20 months. ii. Exercise prices of $70, $75, $80, $85, $90, and $95. b. How is the put option price impacted by varying the exercise price? c. How is the put option price impacted by varying the duration of the option?

Please include cell by cell instructions