An asset has a 2-step binomial tree, with the following information:

u = 1.05, d = 0.91, price of asset (S) = 150, risk free rate (r) = 2%. There is a strike price (K) for a put option (American) on this asset for $156.

a. what is the risk-neutral probability calculation?

b. draw the 2 step binomial tree. At every node, what are the payoffs and what are the intermediate and final option prices? What is the value of the American put option mentioned above?

c) Now assume the option is a European one instead, but everything else stays the same. What is its value?

d) Find the estimation of the volatility and calculate the delta

Please show all steps and calculations involved so that I can fully understand how to solve. Thank you