Use Blacks approximation to find the current fair values of a 13-month American call option with a strike price of 24 on a dividend paying stock trading at a current market price of 24, interest rate of 6.2 percent per year, continuously compounded and volatility of 0.32 (as a number, not percent). The stock will go ex-dividend every 3 months starting from time zero and the amount of each quarterly dividend is 4 percent of the current stock price. Obtain the following fair values of options needed to find Blacks approximate American call value:

a) European call option with maturity at first ex-dividend date.

b) European call option with maturity at second ex-dividend date.

c) European call option with maturity at third ex-dividend date.

d) European call option with maturity at fourth ex-dividend date.

e) European call option with maturity 13 months.

f) Current fair value of American call using Blacks approximation