1. BINOMIAL OPTION PRICING Risk NeutralCall Inputs Outputs Option Type: 1=Call, 0=Put1 Risk Neutral Probability 36.67% Stock Price Now$60.00 Up Movement / Period10.00% Down Movement / Period-5.00% Riskfree Rate / Period 0.50% Exercise Price $65.00 Time To Maturity (Years) 2.00 Number of Periods 8Now Period0 1 23 4 56Time 0.000 0.250 0.5000.750 1.000 1.2501.500 Stock$60.00$66.00 $72.60 $79.86 $87.85$96.63 $106.29 $57.00 $62.70 $68.97 $75.87$83.45$91.80$54.15 $59.57 $65.52$72.07$79.28 $51.44 $56.59$62.25$68.47$48.87$53.76$59.13$46.43$51.07$44.11 Call$3.93 $6.73 $10.94 $16.78 $24.13$32.60$41.94$2.34$4.34$7.65 $12.66$19.42$27.44 $1.20$2.46$4.81 $8.84$14.93$0.48$1.12 $2.52 $5.39 $0.12 $0.32 $0.87 $0.00 $0.00 $0.00

2. Maturity 78 1.7502.000$116.92 $128.62 $100.98 $111.08$87.21$95.93$75.32$82.85$65.05$71.55$56.18$61.79$48.52$53.37$41.90$46.09$39.81 $52.25$63.62$36.30$46.08$22.53$30.93$10.64$17.85 $2.39 $6.55 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00