Question: You are using a two - step binomial tree to estimate the price of a call option on MCD . The strike price of the

You are using a two-step binomial tree to estimate the price of a call option on MCD. The strike price of the call option is $23. The price of MCD today is $44. The risk-free rate is 5%. What is the price of the call? Round your solution to the nearest three decimals if needed (i.e.2.312). Please do not type the $ symbol.
u=3
d=0.7
Please show steps on how to calculate each number in the binomial tree
You are using a two-step binomial tree to estimate the price

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