Please Answer question A & B using Binomial trees with clear workings and illustrations.

In this question, you need to price options with different valuation approaches and comment on your results. You will consider puts and calls on a share with spot price of $60. Strike price is $64. The risk- free interest rate is 5% per annum with continuous compounding. Binomial trees: Furthermore, assume that over each of the next two two-month periods, the share price is expected to go up by 6% or down by 6%. a. Use a two-step binomial tree to calculate the value of a four-month European call option using the no-arbitrage approach. [3 marks] b. Use a two-step binomial tree to calculate the value of a four-month European put option using the no-arbitrage approach. [3 marks] c. Show whether the put-call-parity holds for the European call and the European put prices you calculated in a. and b. [1 mark] d. Use a two step-binomial tree to calculate the value of a four-month European call option using risk-neutral valuation. [1 mark] e. Use a two step-binomial tree to calculate the value of a four-month European put option using risk-neutral valuation. [1 mark] f. Verify whether the no-arbitrage approach and the risk-neutral valuations lead to the same results. [1 mark] g. Use a two-step binomial tree to calculate the value of a four-month American put option. [1 mark] h. Without calculations: What is the value of a four-month American call option with a strike price of $64? Why? [2 marks] Note: When you use no-arbitrage arguments, you need to show in detail how to set up the riskless portfolios at the different nodes of the binomial tree. In this question, you need to price options with different valuation approaches and comment on your results. You will consider puts and calls on a share with spot price of $60. Strike price is $64. The risk- free interest rate is 5% per annum with continuous compounding. Binomial trees: Furthermore, assume that over each of the next two two-month periods, the share price is expected to go up by 6% or down by 6%. a. Use a two-step binomial tree to calculate the value of a four-month European call option using the no-arbitrage approach. [3 marks] b. Use a two-step binomial tree to calculate the value of a four-month European put option using the no-arbitrage approach. [3 marks] c. Show whether the put-call-parity holds for the European call and the European put prices you calculated in a. and b. [1 mark] d. Use a two step-binomial tree to calculate the value of a four-month European call option using risk-neutral valuation. [1 mark] e. Use a two step-binomial tree to calculate the value of a four-month European put option using risk-neutral valuation. [1 mark] f. Verify whether the no-arbitrage approach and the risk-neutral valuations lead to the same results. [1 mark] g. Use a two-step binomial tree to calculate the value of a four-month American put option. [1 mark] h. Without calculations: What is the value of a four-month American call option with a strike price of $64? Why? [2 marks] Note: When you use no-arbitrage arguments, you need to show in detail how to set up the riskless portfolios at the different nodes of the binomial tree