The current stock price for GE is $31. Assume that the stock price for GE in one year will either go up to $36 or go down to $26. The one-year risk-free rate is 2%.

Assume that GE does not pay dividends. Based on the binomial pricing model, the price for a one-year put option (the option has one year maturity from today) on GE with a strike price of $30 is closest to:

		$1.96
		$1.72
		$26.52
		$3.31