Question: For a stock price following a binomial process. In each step u = 1 4 % and d = - 1 4 % , the

For a stock price following a binomial process. In each step u =14% and d =-14%, the risk-free rate is given by (1+rf)=1.04(per step in the tree). The initial stock price is 49. What is the risk-neutral probability that the stock will have 18 up movements and 2 down movements is [provide your answer as a percentage and round to two decimals: e.g. for 0.002873=0.287% enter 0.29]

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