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I need an explanation, excel form would be better, thanks An American put with strike $33 and expiry in two time-steps is currently available. In

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I need an explanation, excel form would be better, thanks

An American put with strike $33 and expiry in two time-steps is currently available. In Cox-Ross-Rubenstein notation the underlying asset has S=30,u=1.3 and d=1/u. The return is variable, with R(0,0)=1.04,R(1,1)=1.02 and R(1,0)=1.09. What is a rational value for the premium of this put

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