1. what is going to be the down probability you will use to value an option in a two stage tree if:

   1. the period of the up and down step of the tree is every half year

   2. volatility is 30% per annum

   3. risk free rate is 15

2. 		0.37
   		0.46
   		0.56
   		NONE OF THE ABOVE

PLEASE ANSWER ASAP WILL GIVE POSITIVE RATING