15.17. Consider again the situation in Problem 15.16. Suppose that the portfolio has a beta of 2.0,...

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15.17. Consider again the situation in Problem 15.16. Suppose that the portfolio has a beta of 2.0, the risk-free interest rate is 5% per annum, and the dividend yield on both the portfolio and the index is 3% per annum. What options should be purchased to provide protection against the value of the portfolio falling below $54 million in one year’s time?

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