Q24 A two-year European call option has a strike price of $80. The underlying stock pays no dividend and currently sells for $80. To price the call, we consider a one-step binomial tree, where the stock price may move up or down by 25% in a step. The risk-free rate is 3% per annum. The required return on the stock is 10% per annum. What is the discount rate (per annum) for the call in the Discounted Cash Flow?