Consider a 2-year European put with a strike price of $60 on a stock whose current price is $57. We assume that there are two time steps of 1 year, and in each time step the stock price either moves up by 15% or moves down by 15%. Let the risk-free Interest rate be 4%. What will be the value of this put?

a.0

b. None is correct

c. 2.25

e. 3.25

f. 4.25