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A non-dividend paying stock priced at 50 can go up or down by 10 percent each period over two total periods. The risk-free rate is

A non-dividend paying stock priced at 50 can go up or down by 10 percent each period over two total periods. The risk-free rate is 4 percent per period. Which of the following is the correct price of an American put with an exercise price of 52?

Answer is 2.50 but need to know how to get it.

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