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8. Bill writes a 3-month European call for a premium of $4.26. The strike price is $70. If the spot price at expiration is $75,

8. Bill writes a 3-month European call for a premium of $4.26. The strike price is $70. If the spot price at expiration is $75, then Bill's profit is $0.66. Calculate the annual effective risk-free interest rate

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