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A stock is currently trading at 2 0 . Assume that at the end of one month it will either be 2 3 or 1

A stock is currently trading at 20. Assume that at the end of one month it will either
be 23 or 17. The risk-free interest rate is 5% per annum. The value of an ATM put
option with a maturity of 1 month is closest to

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