Microsoft is currently trading at $191.00 per share and pays no dividends. The volatility of its stock return is 35%. The risk-free rate is 5.00%, the European call option exercise (strike) price is $190.00. Assume you are trying to value a 1-year option and 3 binomial periods. Find the value of u and d, and draw the binomial tree and find the intrinsic values of the last column, also the risk-neutral probability, p*. What is the value of the 1-year $190-strike European call option? Why is there a price difference between the 1-year $190-strike European call option as the number of binomial periods changes?