Options- up and down moves

CFA Level II
#1

Spot price =30

u=15%

d=20%

What are the values of the two nodes for year 1?

u=30*1.15=34.50

d=30*0.80=24 or 30/1.20=25?

I have seen the second version in an example and I can’t unsee it…

#2

d = 24.

The example was created by a moron.

#3

I concur