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Options Consider the following three-period binomial tree for modeling the price movements of a nondividend-paying stock. The length of cach period is 1 year. The

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Options Consider the following three-period binomial tree for modeling the price movements of a nondividend-paying stock. The length of cach period is 1 year. The continuously compounded risk-free interest rate is 10%. Calculate the price of a 3-year at-the-money American put option on the stock. 234.375 187.5 150 150 120 120 96 96 76.8 61.44

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