10. Meranti Inc.'s stock is currently trading at $20. To lock in a guaranteed minimum value of $20 at year-end, a protective put strategy can be pursed. You estimate that the stock price will either increase by 10% or decrease by 10% over the next year. The riskfree rate is 5%. In equilibrium, what total cost of a protective put portfolio which includes a position in the stock and a position in the put option? C) D) $19.00 $19.52 $20.00 $20.48 None of the above