A stock price is currently $50 with an expected price target of 57.5 in 10 months. The expected annual return is 15%. The risk-free rate is 4% per year with continuous compounding. (40 points- I want to see binomial trees) a. What is the value of a 10-month European put option with a strike price of $51 using 1 month price steps b. What is the value of a 10-month American put option with a strike price of $52 using 1 month price steps c. Estimate the lowest possible strike price for it to be optimal to exercise the option immediately