As an option trader on GM stock, you have collected the following information:

(1) GM stock's current price is S = $100.

(2) GM's future prices follow a two-state path with u = 1.1052 (in Up state) and d = 0.9048 (in Down state) in each period.

(3) The one-period riskfree holding period return is R = 1.01.

Consider two American options on GM stock (a Put and a Call), both have a strike price of $110 and 5 periods before expiration.

(a) What is the value of the American Put today? Show your work.

(b) What is the value of the American Call today? Show your work.