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A call option with an exercise price of $31 and 6 months to expiration has a price of $2.67. The stock is currently priced at

A call option with an exercise price of $31 and 6

months to expiration has a price of $2.67. The stock is

currently priced at $6.99, and the risk-free rate is 3

percent per year, compounded continuously. What is the

price of a put option with the same exercise price and

expiration date

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