What is the price of a 2-year American put option on a non-dividend-paying stock when the stock price is 10, the strike price is 10, the risk-free interest rate is 5%_CC, and the annual volatility is 20%? Use a binomial tree with a time step of one year.

A.

$0.53

B.

$0.73

C.

$0.93

D.

$1.13