Black-Scholes-Merton Option Pricing Model Calculate the prices of a 3-month European call option and a 3-month European put option respectively on a non-dividend-paying stock with a strike price of $51 when the current stock price is $50, the risk-free interest rate is 8% per annum, and the volatility is 25% per annum. Find N(dl), N(d2), the call price, and the put price using the following formulas. The Black-Scholes-Merton formulas for the prices of European call and put options are: In (So/K) + (r +02/2)T C=S, Nd) - Kert "N(d) di p= Ke-T N(-d) - SN-d) In (So/K) + (r - 02/2)T d2 =d, -ovi OVT OT The function N(x) is the probability that a variable with a standard normal distribution will be less than x. a Submit your solution using an Excel spreadsheet with Excel formulas or functions. /