Travis Travels LLC has recruited you as their fresh derivatives pricing analyst. As part of your first task, the CFO James Cooper provides you the following information: Stock price $65 Volatility 15% Risk free rate Exercise price 10% per annum $75 9 months Term to maturity (a) Using Black Scholes Option Pricing Model, determine the price of a European call option. Clearly show all your workings. [6 marks] (b) Using the put-call parity model, estimate the price of the put option. [2 marks] (c) Explain how an American call premium is valued compared to a European call premium under a 2 time-step Binomial Option Pricing Model. [2 marks]