5. You are given a three-period binomial tree with the following parameters: S = 100, R = 1.02, u = 1.10, and d = 0.90. Consider a claim whose payoff at maturity is given by Smax - Smin where Smax and Smin are, respectively, the highest and lowest stock prices observed during the option's life (including the initial price of S = 100). What is the initial price of this claim?
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