The diagram below depicts a 3-step Binomial tree to model share price. Each branch in the tree spans 4 months (6t = 0.3333). 139.95 111.09 88.18 88.18 70 55.57 55.57 44.11 35.01 Node Time: 0.0000 0.3333 0.6667 1.0000 Let S, S and S, denote the share price at the end of the fourth, eighth and twelfth months respectively. An 'average rate' Asian derivative, which matures in 12 months' time, is written on this stock with a payoff function as follows: Payoff-max(0,S, -(S,+S)). In words, to calculate the payoff to the derivative: (i) take the average of the share prices after 4 and 8 months, (ii) deduct this from the share price after 12 months, and (i) see whether this is bigger than 0. Consider the path DDU. For this specific path, the payoff to the Asian derivative is Consider the path UUD. For this specific path, the payoff to the Asian derivative is Do not enter the dollar sign ($). Enter your answer with 2 decimal places. The diagram below depicts a 3-step Binomial tree to model share price. Each branch in the tree spans 4 months (6t = 0.3333). 139.95 111.09 88.18 88.18 70 55.57 55.57 44.11 35.01 Node Time: 0.0000 0.3333 0.6667 1.0000 Let S, S and S, denote the share price at the end of the fourth, eighth and twelfth months respectively. An 'average rate' Asian derivative, which matures in 12 months' time, is written on this stock with a payoff function as follows: Payoff-max(0,S, -(S,+S)). In words, to calculate the payoff to the derivative: (i) take the average of the share prices after 4 and 8 months, (ii) deduct this from the share price after 12 months, and (i) see whether this is bigger than 0. Consider the path DDU. For this specific path, the payoff to the Asian derivative is Consider the path UUD. For this specific path, the payoff to the Asian derivative is Do not enter the dollar sign ($). Enter your answer with 2 decimal places