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Assume that current stock price= USD 11. A European put P (X=USD 13) will expire in 6 months. The no-arbitrage price of this European put

Assume that current stock price= USD 11. A European put P (X=USD 13) will expire in 6 months. The no-arbitrage price of this European put should be ____ USD 14.

cannot be determined

higher than or equal to

equal to

lower than or equal to

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