Consider a one-step binomial model for two no-arbitrage assets X and Y with parameters 0 V1 =...

Consider
a one-step binomial model for two no-arbitrage assets X and Y with parameters 0
< d="">< 1="">< u,="" and="" initial="" price="" xy="" (0)="1." find="" the="" price="" and="" the="" hedge="" of="" a="" contract="" v="" that="" pays="" off="">

V1 = max(X1, Y1).

Compute
the price of the contract V using both martingale measures P Y and P X.