can you kindly explain how they arrived at the answers

NCch)=0,25 4. The stock price on ALGN is at $300. The 2-year 25-delta call option on the stock has a strike (K) of 360, and N(d2) at 0.20 c= SNC) -INCH) = 300 x0.25 - 36000.2 215-72=3 (a) (3) Compute its option value based on the Black-Scholes-Merton formula. 3 (b) (3) If the stock price goes down by $2. how much do you expect the call option value to change? -0% 2x 0.25 = -0.5 un