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A European put option has a strike price of $28 and the underlying stock price is $24/share with no future dividend payout. The applicable risk-free

A European put option has a strike price of $28 and the underlying stock price is $24/share with no future dividend payout. The applicable risk-free rate for the maturity of this option is 5%. The upper and lower bounds for this European put option are

A.26.67 and 2.67.

B.28 and 0.

C.24 and 0.

D.24 and 2.67.

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