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Question 27 3.75 pts A stock is selling for $45.75 with a call option available at a $40 strike that has a premium of $8.77.

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Question 27 3.75 pts A stock is selling for $45.75 with a call option available at a $40 strike that has a premium of $8.77. What percentage of the common stock price does the speculative premium represent? (Report a number and keep 4 decimal places. e.g. report 0.1501 instead of 15.01%.)

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