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4. Why when the stock pays dividends the argument of the problem No.3 can not he used. Give a numerical example (choosing 1. k. r,

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4. Why when the stock pays dividends the argument of the problem No.3 can not he used. Give a numerical example (choosing 1. k. r, T -t, a) in which it is obvious (without any formulas) that American put price on a nondividend paying stock is larger then the corresponding European put price

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