Consider a derivative on a stock with the time to expiration T and the following payoff: if ST K1. What is the present value of the derivative? Provide an analytic expression of the price using N(), the cumulative probability distribution function of a standard normal random variable. Consider a derivative on a stock with the time to expiration T and the following payoff: if ST K1. What is the present value of the derivative? Provide an analytic expression of the price using N(), the cumulative probability distribution function of a standard normal random variable