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An investor is bearish on a particular stock and decided to buy a put with a strike price of $38. Ignoring commissions, if the option

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An investor is bearish on a particular stock and decided to buy a put with a strike price of $38. Ignoring commissions, if the option was purchased for a price of $0.87, what is the break-even point for the investor? (Do not round intermediate calculations. Round your final answer to 2 decimal places.) Multiple Choice $37,13 $38.00 $38.87 $33.06

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