The answer is given, what I'm wondering about is the calculation step by step.

Please offer details if you can figure it out, otherwise just skip it.

Thanks in advance

In a two-step model the variable returns are R=1.1,R(1,)=1.05 and R(1,)=1.14. For constant risk neutral probability =0.6, what is the premium of a zero-coupon bond which matures in two time steps? $0.8385 Correct. At expiry, the zero-coupon bond pays $1 at all three nodes, and the two-step binomial pricing model with variable returns calculates the premium. $0.8772 $0.9524 $0.9091 In a two-step model the variable returns are R=1.1,R(1,)=1.05 and R(1,)=1.14. For constant risk neutral probability =0.6, what is the premium of a zero-coupon bond which matures in two time steps? $0.8385 Correct. At expiry, the zero-coupon bond pays $1 at all three nodes, and the two-step binomial pricing model with variable returns calculates the premium. $0.8772 $0.9524 $0.9091