The price of Cilantro, Inc., stock will be either $70 or $90 at the end of the year. Call options are available with one year to expiration. T-bills currently yield 6 percent.

a.	Suppose the current price of the companys stock is $80. What is the value of the call option if the exercise price is $60 per share? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)
b.	Suppose the current price of the companys stock is $80. What is the value of the call option if the exercise price is $75 per share? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)