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A Put option contract on the euro, with a strike price of $1.08 per EUR, is currently being traded for $329. If the current spot

A Put option contract on the euro, with a strike price of $1.08 per EUR, is currently being traded for $329. If the current spot rate is $1.0714 per EUR, what is the implied time value on the option. Assume a contract size of 10,000 EUR.

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