Problem 3. Consider a two-step binomial model with S(0) 90 and returns on the stock u 0.15 and d0.2. Let the risk-free return be r 0 and suppose that the stock pays a dividend of 7 at step 1 and a dividend of 3 at step 2. a) (2 points) Draw the stock price tree. b) (8 points) Compute the risk-neutral probability and find the price of a European put with strike X = 80 and expiration at step 2