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5. Brad writes a 3-month European put option with a strike price of $K and a premium of $6. The risk-free rate is 8% compounded

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5. Brad writes a 3-month European put option with a strike price of $K and a premium of $6. The risk-free rate is 8% compounded quarterly. If the spot price at expiration is $90, then 'Brad's profit is $6.12. Determine \$K

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