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A share of stock has both put and call options outstanding based on it. The current stock price is $70. The call and put options

A share of stock has both put and call options outstanding based on it. The current

stock price is $70. The call and put options both have 70 days to expiration and

exercise prices of $65. The risk free rate is 4%. The call option is currently priced at

$7.20. The stock does not pay dividends. What is the price of the put option derived

from put-call parity?

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