binomial option pricing model

Use the binomial model and two time periods to determine the price of the DCRB June 130 American put. Use the appropriate parameters from the information given in the chapter, which was originally given in Chapter 3, and a volatility of 83? The binomial option pricing model has several advantages, particularly related to illustrating important concepts and practical applications. Identify and discuss three advantages related to illustrating important concepts, and three advantages related to practical applications