Question: The next question is based on the following data for a two-period binomial model. The stocks price S is $100. After three months, it either

The next question is based on the following data for a two-period binomial model. The stocks price S is $100. After three months, it either goes up and gets multiplied by the factor U = 1.05, or it goes down and gets multiplied by the factor D = 1/U. Options mature after T = 0.5 year and have a strike price of K = $95. The continuously compounded risk-free interest rate r is 1.1 percent per year. Todays price of an American put option is: [round to two decimal places]

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