IBM stock currently sells for 100 dollars per share. The implied volatility equals 20.0. The risk-free rate of interest is 4.0 percent continuously compounded. If you owned a 200 shares of IBM stock, how many call options with a strike price of 95 and a maturity of 6 months would you have to buy (sell) to create a delta-neutral hedge? Assume each option controls one share of IBM stock. Answer should be rounded to 2 decimal places.

Which of the following statements are false regarding activity-based costing? non-manufacturing costs are important to include when calculating the cost of each product. costs are allocated based on a pre-determined overhead rate. transitioning from traditional costing methods to activity-based costing can be complicated and costly. activity-based costing follows the same basic calculation methods as traditional costing approaches. none of the above