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*10.8 The The stock price at time 0 is 120. At time 1, the stock price will be either 144 or 100. The risk-free effective

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*10.8 The The stock price at time 0 is 120. At time 1, the stock price will be either 144 or 100. The risk-free effective annual rate of interest from time 0 to time 1 is 10%. (i) A put option on the stock with exercise price 110 expires at time 1. Find the number of units of risk-free bond in the replicating portfolio at time 0

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