A 6-month American put option on a stock with an exercise price of $104 is currently valued at $15.0111. The current stock price is $100 and it will pay an unknown percentage dividend four months from now. The annual return volatility is 50% and the riskfree interest rate is 5%. Please use a two-step binomial tree to work out the implied percentage dividend and also calculate the number of shares required to hedge such a put option. Please keep four decimal places for all calculated values. (Hint: you can use the excel to build a binomial tree for this question. As a guide, the stock has never paid a percentage dividend higher than 5%.)