Consider the following two period binomial tree: Stock Prices $72.60 $66.00 $60 $59.40 * $54.00 $48.60 If the strike price is $60, and the risk-free rate of return R is 1.06, the put value in the down state at the end of the first period dS is: $2.15 $2.76 $2.60 $0.11 Consider the following two period binomial tree: Stock Prices $72.60 $66.00 $60 $59.40 * $54.00 $48.60 If the strike price is $60, and the risk-free rate of return R is 1.06, the put value in the down state at the end of the first period dS is: $2.15 $2.76 $2.60 $0.11