Suppose that the upward transition in a binomial tree is 21.5% and a downward transition is 21.5%. If the risk-free rate of interest is 1.45%, what is the probability of an upward transition? Report your answer in decimal form to four decimals, e.g., 23.45% reported as 0.2345.

Suppose that the upward transition in a binomial tree is 21.5% and a downward transition is 21.5%. If the risk-free rate of interest is 1.45%, what is the probability of an upward transition? Report your answer in decimal form to four decimals, e.g., 23.45\% reported as 0.2345