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A stock has a current price of $50. Each period the stock price moves up by 20% or down by 15%. The risk-free rate is

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A stock has a current price of $50. Each period the stock price moves up by 20% or down by 15%. The risk-free rate is 5% per period. What is the value of an American-style put with two periods until expiration and a strike price of $55 ? (2 points)

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