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Calculate the price of a 3 month, American put option on a stock, with a stock price of 80, and with a strike price $80.

Calculate the price of a 3 month, American put option on a stock, with a stock price of 80, and with a strike price $80. Assume the risk free interest rate is 15% per annum, and the stock volatility is 35% per annum. Use a binomial tree with a time interval of one month. Draw the stock price and option trees, and determine whether this question is at-the-money, out-of-the-money, or in-the-money

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