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(1) Consider an exchange-traded put option contract to buy 120 shares with a strike price of $24 and maturity in 3 months. Explain how the

(1) Consider an exchange-traded put option contract to buy 120 shares with a strike price of $24 and maturity in 3 months. Explain how the terms of the option contract change when there is (a) a 20% stock dividend; and (b) a 3-for-1 stock split

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