If the current price of spot gold is 2000. In the next two periods the price of gold is expected to either go up by 5% o

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If the current price of spot gold is 2000. In the next two
periods the price of gold is expected to either go up by 5% or
decline by 5% each period. The risk-free rate is 1% each
period.
QA. What is the value of a European call option on gold which
matures in one period with a strike price of 2000? What is the
hedge ratio? What is the value of a put option with the same strike
price?
QB. What is the value of a call option on gold which matures in
two periods with a striking price of 2000? What are the hedge
ratios? What is the value of a put option with the same strike?
Compare the values of the options with the option values obtained
in A.