Use a one-step binomial tree to price a European 6 month put option on the British pound. Assume the current price of a British pound is $0.82 and the strike price is $0.80. The yearly standard deviation of this exchange rate is 15% and the current US risk free rate is 2% and the risk free rate on the British pound is 3%. What is the u or up value for this option (think of the u value that is part of the p probability of the up case equation)? What is the option worth in the down case? What is the p value or likelihood of a u or up price movement? What is the price today of the 6 month year put option on the British pound? In your response please list the letter and then the numeric answer, use 6 decimal places for all caluclations such as:

A. 0.000000

B. 0.000000

C. 0.000000

D. 0.000000