Kindly show step by step working: In August 1998 the Bank of Thailand was reported as offering to foreign investors in troubled banks the opportunity to resell their shares back to the central bank within a period of five years for the original purchase price. This is to guarantee that at least they will not lose any of the money they plan to invest, said the Deputy Governor. (The Wall Street Journal Europe, August 6, 1998, p.20.) Suppose that (a) the standard deviation of Thai bank shares was about 45 percent a year, (b) the interest rate on the Thai baht was 15%, and (c) the banks were not expected to pay a dividend in this five-year period. How much was this option worth? Assume an investment of 100 million baht