For the next 4 questions, consider a stock that moves according to a following tree over the next 2 years, where each of the 2 steps is 1 year, and there are only 2 possibilities (2 possible moves) for the stock at each node. Today the stock price is $30. Risk-free rate is 6% annually, and assume that any and all options written on the stock are American and have an exercise price of $32. 36.3 30 29.7 27 24.3 1. What is the current (today's) delta of a call option expiring in 12 months? 2. How many shares would an investor need to combine today with writing 1 call option expiring in 12 months in order to form a riskless portfolio? 3. The value of a 12-month call option today is: Assuming that 12 months from now the stock is at $27, what is the value of a 12-month put option at that point in time (meaning, the value of an option that expires 2 years from now)? 4