Question: How is the tree in Figure 35.2 modified if the 1- and 2-year futures prices are $21 and $22 instead of $22 and $23, respectively.

How is the tree in Figure 35.2 modified if the 1- and 2-year futures prices are $21 and $22 instead of $22 and $23, respectively. How does this affect the value of the American option in Example 35.3.

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