(b) Consider a 3-month American put with strike price $62 and current stock price $60. The life of option is 3 months in three-time steps of 1 month and in each time step the stock price either moves up or moves down. If the volatility is 24%, Calculate the option price on each node using Binomial option pricing model. Does the Binomial model give the same result as the Black-Sholes model for Option prices? (14)