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An American put option on a non-dividend-paying stock has 4 months to maturity. The exercise price is $21, the stock price is $20, the risk-free

An American put option on a non-dividend-paying stock has 4 months to maturity. The exercise price is $21, the stock price is $20, the risk-free rate of interest is 10% per annum, and the volatility is 30% per annum. Use the explicit version of the finite difference approach to value the option. Use stock price intervals of $4 and time intervals of 1 month.

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