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12. If at expiration, the underlying stock price is $20 per share, what is the total intrinsic value per share of long a put with

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12. If at expiration, the underlying stock price is $20 per share, what is the total intrinsic value per share of long a put with an exercise price of $40 and short a put with an exercise price of $40? A) B) C) D) -$10 SO SIO $20 $30

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