(a) The futures price of Lumber (a commodity) is 750. Use a three-step Binomial tree to value a six-month American call option with strike price of 800 assuming the volatility is 15% and risk-free rate of 4% using continous compounding. (b) SPY is trading at 420, calculate the Black-Scholes price for a 3-month European put option strike at 400 assuming a 5% dividend yield and a risk-free rate of 4% and a 15% volatility