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A stock is currently priced at $33 and will move up by a factor of 1.6 or down by a factor of 0.57 each

A stock is currently priced at $33 and will move up by a factor of 1.6 or down by a factor of 0.57 each period over each of the next two periods. The risk- free rate of interest is 3 percent. What is the value of a put option with a strike price of $52? Note: Do not round intermediate calculations. Round your answer to 2 decimal places. Value of a put option $ 22.12

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