ArcelorMittal (MT) stock, a global steel manufacturer, is currently trading at $20 per share. Over each of the next two three-month periods it is expected to go up by 10% per period or down by 10% per period. The risk-free interest rate is 8% per annum with continuous compounding. Using the risk-neutral valuation method, calculate the value of a six-month European put option on MT stock with a strike price of $18. In your answer provide a binomial tree diagram showing the nodes with stock price and option value at each node