Question: The following binomial option pricing problem involving a put. This put has two periods to go before expiring. Its stock price is 100, and its

The following binomial option pricing problem involving a put. This put has two periods to go before expiring. Its stock price is 100, and its exercise price is 110. The company expects to pay dividends after the first period. The dividend yield is 7%, the risk-free rate is 0.05%, the value of u is 1.15x, and the value of the d is .90x. Find the value of the put premium.

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