20 pts For a BAPM with N = 3, r = .03, u = 1.05, d = .97, p = q = .5, and So = 20, determine (a) the arbitrage free price of an American option with strike K = 20. (b) the stopping times or execution strategy, i.e. when you would exercise, for this option. 20 pts For a BAPM with N = 3, r = .03, u = 1.05, d = .97, p = q = .5, and So = 20, determine (a) the arbitrage free price of an American option with strike K = 20. (b) the stopping times or execution strategy, i.e. when you would exercise, for this option