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Mark writes a one-year European put with a strike price of X and a premium of $8.78. The riskfree rate of interest is 4.8% effective

Mark writes a one-year European put with a strike price of X and a premium of $8.78. The riskfree rate of interest is 4.8% effective per annum. Mark's profit at a spot price at expiration of $85 is $1.83. Determine X

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