QUESTION FOUR put and a call option using the Black Scholes (15 marks) valuation model. the Americans Finance Associates in (b) Fischer Black (1986) in his presidential address to the Americans Finance ASSOC 1985 entitled "Noise" postulated the following view points: (1) Noise makes finance markets possible but also makes them imperfect. (2) Noise is a major reason for the use of decision rules that seem to violate the normal axioms of expected utility. Required A well-reasoned exposition of the above mentioned view points. (10 marks)