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Pawtucket Patriot Brewing Co. stock currently trades at $45 per share and has an annual volatility = 50%. The continuous risk-free rate is 6% per

Pawtucket Patriot Brewing Co. stock currently trades at $45 per share and has an annual volatility = 50%. The continuous risk-free rate is 6% per year. What is the Black-Scholes price of a put option on Pawtucket Patriot with a strike price of $50 and 3 months to maturity? This stock pays no dividends.

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