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A stock price (which pays no dividends) is $20 and the strike price of a two year European put option is $25. The risk-free rate

A stock price (which pays no dividends) is $20 and the strike price of a two year European put option is $25. The risk-free rate is 4% (continuously compounded). What is the lower bound for the put option? A. $3.08 B. $4.25 C. $5.00 D. $4.62

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