Tom's Beer Companys stock is currently trading for $69. The stock has a volatility of 35% per annum. The risk-free interest rate is 5% per annum. The stock currently does not make any dividend payments.

- Using a two-step tree, calculate the price of a 6-month European call with a strike price of $70.

- Using a two-step tree, calculate the price of a 6-month European put with a strike price of $70.

- Use the call and put prices calculated from parts (A) and (B) to check if put-call parity holds.