Assume there is no arbitrage, and that all rates are continuous and per annum. Consider a European call option on IBM with strike price $23.30 and expiration in 20 months. Suppose IBM is trading at $27.80. The risk-free rate is 7% for all maturities. IBM will pay a dividend in 8 months of $0.74 per share. (a) What is the range of values for the option? Enter your solution as a coordinate pair accurate to two decimal places, e.g. (123.45, 678.90). Do not include dollar symbols ($) in your solution. (b) Suppose this call option is trading on the Philadelphia Stock Exchange for $26.45. What is the price of the European put option with the same strike and expiration