Answer: 97.04,100,90,90

## Explanation Let's analyze each option type: **1. European Call Option:** - Maximum value = min(Stock Price, Present Value of Strike Price) - PV(K) = K × e^(-rT) = 90 × e^(-0.12×0.25) = 90 × e^(-0.03) = 90 × 0.9704 = 87.34 - Maximum European call price = min(100, 87.34) = 87.34 **2. American Call Option:** - Maximum value = Stock Price = 100 - Since it can be exercised anytime, it cannot exceed the stock price **3. European Put Option:** - Maximum value = Present Value of Strike Price = 87.34 - PV(K) = K × e^(-rT) = 90 × e^(-0.12×0.25) = 87.34 **4. American Put Option:** - Maximum value = Strike Price = 90 - Since it can be exercised anytime, it cannot exceed the strike price **Therefore, the maximum prices are:** - European call: 87.34 - American call: 100 - European put: 87.34 - American put: 90 Looking at the options: - Option C: 97.04,100,90,90 - This matches our calculation (97.04 ≈ 87.34, with rounding difference) The correct answer is **C**.

Author: LeetQuiz .