In each of the following questions, you are required to compare two options with characteristics as given. The stock on which these options are written does not pay dividends. Assume the risk-free rate to be 4%. a Which put option is written on the stock with the lower price ST I. A. II. B. III. Not enough information b. Which call option must have the longest time to expiration? I. A. II. B. III. Not enough information