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please help with excel step-by-step (detailed) much appreciated **IMPORTANT** PLEASE MAKE SURE TO USE EXCEL WITH FORMULAS The current price of a stock is $20,

please help with excel step-by-step (detailed) much appreciated **IMPORTANT** PLEASE MAKE SURE TO USE EXCEL WITH FORMULAS

The current price of a stock is $20, and at the end of one year its price will be either $23.50 or $15. The annual risk-free rate is 4.0% (use daily compounding with 365 days/year), based on daily compounding. A 1-year call option on the stock, with an exercise price of $18, is available. Based on the binominal model, what is the option's value?

PLEASE HELP WITH EXCEL STEP-BY-STEP (IN FULL detail) much appreciated **IMPORTANT** I WANT TO LEARN

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