please assist on how to go about this whole question. I do not know starting from how to get the risk neutral probability here.

1.2 Consider the following model on which a derivative with payoff D, is written: 125 120 100 99 95 90 Suppose the corresponding payoff of the derivative D, are given by Pes = 10, Ped = Dau = 3 or Day = 1, and the periodic interest rate is 2% and is compounded once every period. Note that RI is initially deposited in the bank account process. 1.2.1 Use risk-neutral pricing formulas to compute the values of Vo and Vi- [11] 1.2.2 Find the initial premium of the put option with risk-neutral formulas. 1.2.3 What conclusion can you make about initial premium obtained in 1.1.27