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(20 pts) In a binomial tree model, let S(0) = $100, u = 0.12, d= -0.08, r = 0.04. Find today's price of an American

(20 pts) In a binomial tree model, let S(0) = $100, u = 0.12, d= -0.08, r = 0.04. Find today's price of an American put with strike price $102 expiring after two steps. When should the American put be exercised carly

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