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IBM stock currently sells for 28 dollars per share. Over 11 months the price will either go by 16.0 percent or down by -7.0 percent.

IBM stock currently sells for 28 dollars per share. Over 11 months the price will either go by 16.0 percent or down by -7.0 percent. The risk-free rate of interest is 9.0 percent continuously compounded. What is the value of a put option with strike price 29 and maturity 11 months? Do not use excel the answer is 0.87695 want to know we got to that conclusion

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