Each of the following questions should be answered by building a 15-period binomial model whose parameters should be calibrated to a Black-Scholes geometric Brownian motion model with: T =.25 years, S0 =100, r=2%, =30% and a dividend yield of c=1%. Your binomial model should use a value of u = 1.0395 and d = 1/u = 0.96201. (This has been rounded to four decimal places but you should not do any rounding in your spreadsheet calculations.) 1.Compute the price of an American call option with strike K = 110 and maturity T = .25 years. 2.Compute the price of an American put option with strike K = 110 and maturity T = .25 years. Please show the 15-period binomial model in both cases. Also, in the case of the put option, highlight where early exercise is possible.