26. A stock is priced at $100.00 and follows a one-period binomial process with an up move...
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26. A stock is priced at $100.00 and follows a one-period binomial process with an up move that equals 1.05 and a down move that equals 0.97. If 1 million Bernoulli trials are conducted, and the average terminal stock price is $102.00, the probability of an up move (p) is closest to:
A. 0.375.
B. 0.500.
C. 0.625.
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