Question: You are attempting to value a put option with an exercise price of $ 1 0 8 and one year to expiration. The underlying stock

You are attempting to value a put option with an exercise price of $108 and one year to expiration. The underlying stock pays no dividends, its current price is $108, and you believe it has a 50% chance of increasing to $122 and a 50% chance of decreasing to $94. The risk-free rate of interest is 11%. Calculate the value of a put option with exercise price $108.
Note: Do not round intermediate calculations. Round your answer to 2 decimal places.You are attempting to value a put option with an exercise price of $108
and one year to expiration. The underlying stock pays no dividends, its
current price is $108, and you believe it has a 50% chance of increasing
to $122 and a 50% chance of decreasing to $94. The risk-free rate of
interest is 11%. Calculate the value of a put option with exercise price
$108.
Note: Do not round intermediate calculations. Round your answer to
2 decimal places.
Answer is complete but not entirely correct.
You are attempting to value a put option with an exercise

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