A contract allows you to buy 1000 British Pound at 1500 US dollars today and to have the option to sell British Pound for 1700 US dollars at any time period before expiration in 9 months. Assume the following information for the binomial model. Volatility of exchange rate is o = 0.30. We can borrow US dollar at the interest rate of 4 percent per year. We can buy British Pound and earn interest rate of 5 percent per year. Each time period is 3 months. Find the value of the contract today