Consider an one-year European call on a stock with strike price$50. The current stock price is$50 and we assume that there are three time steps for the price to change until the option maturity. In each step, the stock price can move either up or down by 7%. The risk-free interest rate is 2% per annum. Currently, we are in time 0. What is the risk-neutral probability that the option will be exercised?