3. Find the price of a binary cash-or-nothing put option in a binomial tree with the follo...

3. Find the price of a binary cash-or-nothing put option in a binomial tree with the following parameters: S = 100, u = 1.10, d = 0.90, R = 1.02, and K = 100. Assume that the binary pays a flat amount of $10 if S_T 100, and nothing otherwise.