You would like to carry out investment strategies from options. You are interested in the shares of the company W&W. The share is listed today at 28. The annual volatility of this security is 25%. A European put option with a 3-month expiry date and an exercise price of 30 is available on the market. W&W will not distribute a dividend during the period considered. The risk-free, continuously capitalization interest rate is 3% for all maturities. Using a three-step binomial tree (risk-neutral version),

calculate the value of the option.?