Consider a 1-year option with exercise price $65 on a stock with annual standard deviation 15%. The T-bill rate is 3% per year. Find N(d₁) for stock prices (a) $60, (b) $65, and (c) $70. (Do not round intermediate calculations. Round your answers to 4 decimal places.)

need detailed explanation please... hard to understand

S	N(d1)
$60	0.3913selected answer incorrect
$65	0.6084selected answer correct
$70	0.7791selected answer correct