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Problem 21-12 Use the Black-Scholes formula for the following stock: Time to expiration6 monthsStandard deviation54% per yearExercise price$54Stock price$52Annual interest rate4%Dividend0 Calculate the value of

Problem 21-12

Use the Black-Scholes formula for the following stock:

Time to expiration6 monthsStandard deviation54% per yearExercise price$54Stock price$52Annual interest rate4%Dividend0

Calculate the value of a put option.(Do not round intermediate calculations. Round your answer to 2 decimal places.)

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