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\ufeffShow me the steps to solve...

1. \ufeffA European call option on a non-dividend-paying stock with a strike price of $18 \ufeffand an expiration dat te in six months costs $3. \ufeffThe stock price is $20 \ufeffand the risk-free interest rate is 10% \ufeffper annum. After 12 \ufeffmonths, what is the net gain per share if an investor decided to short 1 \ufeffthe stock for $20, \ufeffinvest $17 \ufefffor one year, and buy the option for $3?

2. \ufeffA European put option on a non-dividend-paying stock with a strike price of $40 \ufeffand an expiration date e in six months costs $1. \ufeffThe stock price is $37 \ufeffand the risk-free interest rate is 5% \ufeffper annum. After 6 \ufeffmonths, what is the net gain per share if an investor decided to buy the s stock for $37 \ufeffand the option for $1?