Please explain steps and write in calculation functions

Question 8 1 out of 1 points Suppose the exchange rate is $1.21/C$. Let r s = 7%, r c$ = 8%, u = 1.15, d = 0.86, and T = 1. Using a 2-step binomial tree, calculate the value of a $1.30-strike European put option on the Canadian dollar. Selected Answer: $0.1558 a. Answers: $0.1558 a. b. $0.1578 $0.1614 C. d. S0.1472 $0.1671 e. Question 8 1 out of 1 points Suppose the exchange rate is $1.21/C$. Let r s = 7%, r c$ = 8%, u = 1.15, d = 0.86, and T = 1. Using a 2-step binomial tree, calculate the value of a $1.30-strike European put option on the Canadian dollar. Selected Answer: $0.1558 a. Answers: $0.1558 a. b. $0.1578 $0.1614 C. d. S0.1472 $0.1671 e