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Q2. What is a lower bound for the price of a one-month European put option on a non-dividend-paying stock when the stock price is $125,

Q2. What is a lower bound for the price of a one-month European put option on a non-dividend-paying stock when the stock price is $125, the strike price is $150, and the risk-free interest rate is 6.7% per annum? (Please round your final answer to two decimal places)

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