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The current price of a stock is $28. In each of the next two years this stock will either go up 22% or down 22%.

The current price of a stock is $28. In each of the next two years this stock will either go up 22% or down 22%. The stock pays no dividends. The one year risk free interest rate is 5.8% and will remain constant. Using the Binomial Model, calculate the price of a one year put option on this stock with a stoke price of $28.

Please walk me through the calculation on how to calculate this!

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