Kermit owns a European call option for Muppets Amalgamated Industries (MAI). The option has anexercise price of $100, with an expiration date one year from today. If Kennedy assumes that MAIstocks value on the expiration date comes from a uniform distribution, with all prices between$70-$140 equally likely, what is the perceived expected value of the option? Assume that Kermit is risk neutral, and assume an effective annual discount rate of 8% for this option.(Note that with this uniform distribution, any price from $ 70 to $140 is equally probable in 1-centincrements, but no other price can occur with positive probability. You can use a continuousdistribution as an approximation if you want.)

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