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Jeff is analyzing an expansion project for a new business and has developed this input for a Black-Scholes model. Stock price = $7,365,000; Exercise price

Jeff is analyzing an expansion project for a new business and has developed this input for a Black-Scholes model. Stock price = $7,365,000; Exercise price = $12,400,000; time period = 3 years; standard deviation = 14.5 percent, and the continuously compounded interest rate = 4.2 percent. What is the value of d1 as it is used in the model?

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