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For a BAPM with N = 2, r = 1 5, u = 2, d = 1 2, and S0 = 8, determine the arbitrage

For a BAPM with N = 2, r = 1 5, u = 2, d = 1 2, and S0 = 8, determine the arbitrage free price of a European put option with strike K = 10 and its replicating strategy. (Write down the formula you are using please)

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