Question: Please solve and explain step by step. Thank you... An American-type option based on bond expires after 90 days. During this period, there is no

Please solve and explain step by step. Thank you... An American-type

Please solve and explain step by step. Thank you...

An American-type option based on bond expires after 90 days. During this period, there is no coupon payment. The current price of this bond is 100$ for each 90$ nominal value. The nominal value of the contract is 1$ and the risk-free interest rate is 10%. If the strike price is 115, calculate the lowest and highest prices of the put option

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