In the 1-step Binomial formula c = e^-rT (p max(Su - K, 0) + (1 - p) max(Sd - K, 0)), for a European call option, sketch a graph showing how c varies as strike price K changes. Use this to show that c = S if and only if K = 0. In the 1-step Binomial formula c = e^-rT (p max(Su - K, 0) + (1 - p) max(Sd - K, 0)), for a European call option, sketch a graph showing how c varies as strike price K changes. Use this to show that c = S if and only if K = 0