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Please show all steps 3. (Futures vs options) Consider the market for wheat. The current price of a ton of wheat is 250 USD. In

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3. (Futures vs options) Consider the market for wheat. The current price of a ton of wheat is 250 USD. In the next year, the price will be 310 with probability 1/3 and 220 with probability 2/3. The interest rate between the two years is 5% iv) Compute the price of a put option on a ton of wheat with a strike price of 305 USD. The option can be exercised a year from now

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