Assume that a stock’s price over the next two periods is as shown below.The initial value of the stock is $40. The probability of an up move in any given period is 65%, and the probability of a down move in any given period is 35%. Using the binomial model, the probability that the stock's price willbe $39.60 at the end of two periods is closest to: A:22.75%. B:42.25%. C:45.50%.