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5. A share of stock currently sells for $96. The stock pays two dividends of 88 per share, one six months from now and the

5. A share of stock currently sells for $96. The stock pays two dividends of 88 per share, one six months from now and the other one year from now. The annual continuously compounded rate of interest is 5.6%. What is a lower bound for a 1-year European put option with strike price of $86? Hint: $0.6597

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