The following two-step binomial tree depicts the quarterly price path of an underlying share for an American call option. Each step represents a quarter of a year. The strike price of this option is $40 and the risk free rate is 5% pa. d) Binomial Share Prices b) a) Calculate the payoff of the option at point (b). Give your answer in dollars and cents to the nearest cent. a) $50.00 b) $52.00 Payoff at point (b) = $ C $48.00 a) b) Calculate the value of the option at point (b). Give your answer in dollars and cents to the nearest cent. d) $54.08 e) $49.92 Value of the option at point (b) = $ f) $46.08