Use a spreadsheet to calculate the pricing of the following financial derivatives with expiry t=4 (periods).

with the following parameters for the multiperiod binomial model

Up factor; u = 2

down factor d = 0.5

interest rate r = 0.25

initial stock price s_0 = 4

number of periods N = 4

please show stock prices(S_n), valuations (X_n), and stock positions (delta_n)

a) forward contract with strike k=5 and expiry t=4