Note: For all problems where a risk-free rate or a dividend yield is given, assume that the interest rate and the dividend yield are annual and continuously compounded rates.

The current price of a non-dividend-paying stock is $150. The volatility of the stock price is 20%, and the risk-free interest rate is 3% for all maturities.

Using the Black-Scholes pricing model, estimate todays probabilities that the stock price in one year will be (a) less than or equal to $120, (b) between $120 and $160, and (c) greater than $160.