Question 2. An American put option expiring in one year is priced using a 2-period binomial tree based on forward prices. You are given: (i) The price of the underlying stock is 49; (ii) The strike price of the put option is 50; (iii) The continuously compounded risk-free interest rate is 0.03; (iv) The stock pay no dividend; (v) The risk-neutral probability that the stock increases in value in a period is 0.48. Determine the price of the put option. Question 2. An American put option expiring in one year is priced using a 2-period binomial tree based on forward prices. You are given: (i) The price of the underlying stock is 49; (ii) The strike price of the put option is 50; (iii) The continuously compounded risk-free interest rate is 0.03; (iv) The stock pay no dividend; (v) The risk-neutral probability that the stock increases in value in a period is 0.48. Determine the price of the put option