Let us assume that today's stock price is 48 and it is expected either to increase by 5% or to decrease by 6% every period over the next two 3-months periods (two-period Binomial tree). Also suppose that (a) Find the price of a 6-month European call option with strike price 50, written on a non-dividend (3 Marks) the continuously compounded risk-free rate of interest is 7% per annum. paying stock. (b) Find the price of a 6-month European put option with strike price 50, written on a non-dividend (3 Marks) (2 Marks) paying stock. (c) Verify if put-call parity relationship holds using the prices calculated in (a) and (b (d) If the call and put options considered above were American instead of European, then in each case verify if an early exercise is optimal (4 Marks)