Consider the following data: Price of stock now = P = 845 Standard deviation of continuously compounded annual returns = = 0.2578 Years to maturity = t = 0.5 Interest rate per annum = rf = 0.5% for 6 months (1% per annum) Beta of the stock = 1.61 Risk-free loan beta = 0 a-1. Calculate the risk (beta) of a six-month call option with an exercise price of $845. (Do not round intermediate calculations. Round your answer to 2 decimal places.) a-2. Calculate the risk (beta) of a six-month call option with an exercise price of $695. (Do not round intermediate calculations. Round your answer to 2 decimal places.) a-3. Does the risk rise or fall as the exercise price is reduced? b-1. Now calculate the risk of a one-year call with an exercise price of $845. (Do not round intermediate calculations. Round your answer to 2 decimal places.) b-2. Does the risk rise or fall as the maturity of the option lengthens?