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7. A stock has a price of $567 and a volatility of 0.45. A certain put option on the stock has a price of $78

7. A stock has a price of $567 and a volatility of 0.45. A certain put option on the stock has a price of $78 and a vega of 0.23. Suddenly, volatility increases to 0.51. Find the new put option price. Hint: $79.38

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