Use the two-state binomial option-pricing model with continuous compounding for the following questions:

S₀ = $100; X = $120; r_f = 5.5%

The stock price will either increase to $150 (u=1.5) or decrease to $80 (d=0.8).

What is the delta (i.e., hedge ratio) for the put?

What is the probability (Pr_u) that the underlying stock price will experience the 'u' state? (Same as above)

Value the put using the risk-free approach.

Value the put using the risk neutral approach.

I can not figure out how to do the math I got the answers wrong on my homework and I need to know the correct calculations before I take my test.