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The current price of Kowalski Industries stock is USD 20 per share, In the next year the stock price will either go up to USD

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The current price of Kowalski Industries stock is USD 20 per share, In the next year the stock price will either go up to USD 24 per share or go down to USD 16 per share. Kowalski pays no dividends. The one year risk-free rate is 5 percent and will remain constant. Using the one-step binomial pricing model, what is the price of a one-year put option on Kowalski stock with a strike price of USD 20

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