We are examining the price of a European put option on a share of stock GG with one period to expiration. No dividend is expected prior to expiration. The current stock price is $130, the exercise price is $135, the risk-free rate is 4%. The stock price of the next period is either $175.5 or $84.5. What is the risk-neutral probability of the down state?

Is it:

a) 0.55714

b.) 0.44505

c.) 0.5549

d.) 0.44286

If you could try to use excel i'd appreciate it. At least show your steps.