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15. You are given the following prices for 1-year European call options: Strike price Call premium 55 15.00 60 11.25 65 8.66 70 6.05 Consider

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15. You are given the following prices for 1-year European call options: Strike price Call premium 55 15.00 60 11.25 65 8.66 70 6.05 Consider the following two strategies: 1. 55-65 bull spread with calls. 2. 60-70 bull spread with calls. The annual effective risk-free interest rate is 2% (not continuous). Let S be the price of the underlying stock at the end of one year. For which values of S does Strategy #2 yield higher profit than Strategy #1

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