2. Consider a one-period forward binomial model for the stock-price movement over the following year (i.e. At = one year). The current stock price is So = 100; its dividend yield is 5% and its volatility is 30%. The continuously compounded risk-free interest rate is given to be 5%. Consider an American call option on this stock with the expiration date of the end of the period/year. What is the maximum (rounded to the nearest cent) strike price K for which there is early exercise? This question is worth 10 marks