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Consider a 5-month American put option on a non-dividend-paying stock when the stock price is $50, the strike price is $50, the risk-free interest rate

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Consider a 5-month American put option on a non-dividend-paying stock when the stock price is $50, the strike price is $50, the risk-free interest rate is 10% per annum, and the volatility is 40% per annum. Suppose that we divide the life of the option into five intervals of length 1 month, so contract the binomial tree and find the option price

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