Question: Share the steps to calculate with the formula. The current price of SPC stock is ( $ 11 ). In each of the next two

Share the steps to calculate with the formula.

The current price of SPC stock is \$ \\$ 11 \$. In each of the next two years, this stock price can either go up by \$ \\$ 4.00 \$ or go down by \$ \\$ 3.00 \$. The SPC stock pays no dividends. The one-year risk-free interest rate is \4 and will remain constant. Using the binomial pricing model, calculate the price of a two-year put option on the stock with a strike price of \$ \\$ 8 \$

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