Consider a four-period binomial model in which a stock currently trades at a price of sh.31. The stock price can go up 11 percent or down 9.5 percent each period. The risk-free rate is 5 percent per period. Calculate the price of a European call option expiring in four periods with an exercise price of Ksh.32

The smelting department of kiner company has the following production and cost data for november. production: beginning work in process 3,700 units that are 100% complete as to materials and 23% complete as to conversion costs; units transferred out 10,500 units; and ending work in process 8,100 units that are 100% complete as to materials and 41% complete as to conversion costs. compute the equivalent units of production for (a) materials and (b) conversion costs for the month of november.