Math Question 9: Consider a 2-year Asian arithmetic average…

Math Question 9: Consider a 2-year Asian arithmetic average strike put on a non-dividend paying stock whose current price is $50. Suppose that there are two time steps of 1 year, and in each time step the stock price either moves up by 20% or moves down by 20%.The annual continuously compounded risk-free interest rate is 5%. Find the price of the Asian arithmetic average strike put.Enter your answer in Dollars rounded to two decimal places.