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A call and put expire in 0.41 year and have an exercise price of $100. The underlying stock is worth $90 and has a standard

A call and put expire in 0.41 year and have an exercise price of $100. The underlying stock is worth $90 and has a standard deviation of 0.25. The annual risk-free rate is 11 percent. The annual dividend yield (q) on the stock is 2%. The put option price from the three-period binomial model is:

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