The following diagram depicts the valuation of a European put option which has a strike price of $55 using a 1-step binomial tree. The proportional up ("u") and down ("d") movements on this tree are 1.1519 and 0.8681 respectively. The branch length ("St) is 0.50. The riskfree interest rate is 6% per annum continuously compounded. S = $40 P = ? Time 0 S = $46.08 P = $ 8.92 S = $34.72 P = $20.28 Time 6/12 St = 6/12 You will calculate the value of the put option today ($P) using the replication approach. Answer each of the following questions, giving your answer to 2 decimal places. On this branch, delta (A) is equal to which means that you need to the underlying shares. On this branch, "B" is equal to which means that you need to this amount at the bank. At time 0, the value of the put option (P) is Do not enter any dollar signs ($).