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86. Assume that the stock of ALlSiete, Inc., is currently trading for $44 and will either rise to $50 or fall to $29 in one

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86. Assume that the stock of ALlSiete, Inc., is currently trading for $44 and will either rise to $50 or fall to $29 in one year. The risk-free rate for one year is 4 percent. What is the value of a put option with a strike price of $40? (Round the 1mai answer to two decimal places)

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