Consider an European put option with the strike price K = 70 at the terminal time and the stock price following ds(t) = 0.05S(t)dt +0.35S(t)d (t) under the risk-neutral measure P with initial stock price S(0) = 69. Use a three-step binomial tree to compute the price of the European put option and its Delta-hedging, Consider an European put option with the strike price K = 70 at the terminal time and the stock price following ds(t) = 0.05S(t)dt +0.35S(t)d (t) under the risk-neutral measure P with initial stock price S(0) = 69. Use a three-step binomial tree to compute the price of the European put option and its Delta-hedging