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Required: 15 You buy a share of stock, write a one-year call option with X= $13, and buy a one-year put option with X= $13.

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Required: 15 You buy a share of stock, write a one-year call option with X= $13, and buy a one-year put option with X= $13. Your net outlay to establish the entire portfolio is $12.50. What is the payoff of your portfolio? What must be the risk-free interest rate? The stock pays no dividends. (Do not round intermediate calculations. Round "risk-free rate" to 2 decimal places.) Payoff Risk-free rate %

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