Let cuo(K, L) denote the price of a 1-year Apple European down-and-out call with strike K and barrier L.

Assume the spot price is 80.

Using only no-arbitrage, describe as many (in)equalities that can be derived comparing the five quantities

0,

cuo(101, 120),

cuo(101, 110),

cuo(111, 110),

cuo(111, 120).

Justify your answer.