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2. Use the following interest rate tree to value a 2-year interest rate put option with $10 million notional. The exercise rate is 5%. Show

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2. Use the following interest rate tree to value a 2-year interest rate put option with $10 million notional. The exercise rate is 5%. Show all your work. Year 1 Year 2 3% Today 5% 4% 5% 3% 4% Show all your work

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