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Assume you are going to use a 4 step binomial model to price a 1 year option on a stock that has an annual volatility

Assume you are going to use a 4 step binomial model to price a 1 year option on a stock that has an annual volatility of 23%. The risk free rate is 8%. What is the risk neutral probability that you should use in the calculation. Calculate your answer as a %, and accurate to 2 decimal places. Do not enter the % sign.

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