Question: For a stock price following a binomial process, the up factor U = 1.1, the down factor D = 0.9, the dollar return (1 +

For a stock price following a binomial process, the up factor U = 1.1, the down factor D = 0.9, the dollar return (1 + R) = 1.05 percent (per period), and the initial stock price is 100. The risk-neutral probability that the stock will have 18 up movements and 2 down movements is: [give your answer as a percentage and round to two decimal places]

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