) The futures price of a commodity is $89. Use a three-step binomial tree to value a six-month American put option with strike price $92. The volatility is 25% and the risk-free rate (all maturities) is 3% with continuous compounding. What is the value a six-month American put option with a strike price of $92 given by a three-step binomial tree? Show all calculations for u, d, p and (1-p) and the calculations related to option value at each node. Will the option be exercised at any node? Show all related calculations