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Consider a European put option with a strike price of $106.5 and maturity of 11.0 months. The underlying stock price equals 99. The continuously compounded

Consider a European put option with a strike price of $106.5 and maturity of 11.0 months. The underlying stock price equals 99. The continuously compounded risk-free rate is 7.25 percent per year. What is the lower and upper bound, respectively, on the option value?

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