Use a two period binomial tree to price a 4 months European style put option on YMMV struck at $20. The spot price of YMMV is $20 and it pays no dividends. Assume u/d = 4/3, Pup= 1/3, and r= 9.50%

1. $1.34
2. $1.69
3. $1.84
4. $1.55
5. $1.41