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8. (12 pts) A stock had closing price of $30 on the last trading day of 2019. During that year, the stock has an average

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8. (12 pts) A stock had closing price of $30 on the last trading day of 2019. During that year, the stock has an average annual drift of u = 0.08 and volatility o2 = 0.09. Suppose we decide that we hold the stock until it either falls to $25 or grows to $35. What is the expected amount of time we will hold this stock? Explain your solution

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