Find $E[X(t)^2]$ given the partial differential equation... where $B(t), t\geq 0$ is a Brownian motion.

Question

Find $E[X(t)^2]$ given, $dX(t) = (\frac{4(1+t)^2 - X(t)^2)}{8X(t)})dt + \frac{1}{2}X(t)dB(t)$, where $B(t), t\geq 0$ is a Brownian motion.

I think I must apply $It\hat{o}$'s formula to $X(t)^2$ but I am not sure how to go about this.

Any help is greatly appreciated as I am not sure how to go about a problem like this.