Consider a European call option with 1 year to maturity and a strike price of $50. The risk-free rate is 5% per annum. The stock is non-dividend paying, currently trading at $45, and has per annum volatility of 25%. State the absolute difference between the European Black-Scholes call option price and the European binomial price assuming:

a. 1 time step

b. 5 time steps

c. 10 time steps

d. 25 time steps

e. 50 time steps

f. 100 time steps

g. Do the Black-Scholes and Binomial option prices appear to converge?