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39.675 34.5 $30 29.325 c=? 25.5 I 21.675 Above, you are provided a stock's prices in a two-step binomial tree. Each time step is 3

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39.675 34.5 $30 29.325 c=? 25.5 I 21.675 Above, you are provided a stock's prices in a two-step binomial tree. Each time step is 3 months. Calculate the price of an American call option at the beginning of the tree when the stock price is $30. This option has an exercise price of $32. The annual continuously compounded risk free rate is 10%

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