$2.$ Use the binomial method to determine the value of an American Put optionat time t$=0.$ The option expires at time t$=$T $=1/2$ and has exercise priceE $=55.$ The current value of the underlying is S$(0)=50$ with the underlyingpaying continuous dividends at the rate D $=0\mathrm{.}05.$ The interest rate is r $=0\mathrm{.}3.$Use a time step of $$t $=1/6.$ Consider the case of p $=1/2$ and suppose thevolatility is g $=0\mathrm{.}3.$ Perform all calculations using a minimum of $4$ decimalplaces of accuracy.