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Assume that the Black-Scholes framework holds. Let S(t) be the price of a nondividend-paying stock at time t > 0. The stock's volatility is 20

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Assume that the Black-Scholes framework holds. Let S(t) be the price of a nondividend-paying stock at time t > 0. The stock's volatility is 20 Percentage, and the continuously compounded risk-free interest rate is 4 Percent. You are interested in contingent claims with payoff being the stock price raised to some power. For 0

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