Pb(S,t; X) = Ke="[T=t)N(-d2). Consider a stock whose price (6 months from the expiration of a binary put option) today is 10.50. The option pays 0.5 if the stock value at expiry is less than 11, and nothing if the stock value at expiry is greater than 11. The risk-free interest rate is 4% per annum (fixed) and the volatility (constant) is 15% per (annum). Using the formula above for P (S,t; X), determine its value today. The value of N(2) may be determined by a numerical (online) calculator. Pb(S,t; X) = Ke="[T=t)N(-d2). Consider a stock whose price (6 months from the expiration of a binary put option) today is 10.50. The option pays 0.5 if the stock value at expiry is less than 11, and nothing if the stock value at expiry is greater than 11. The risk-free interest rate is 4% per annum (fixed) and the volatility (constant) is 15% per (annum). Using the formula above for P (S,t; X), determine its value today. The value of N(2) may be determined by a numerical (online) calculator