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Returning to the Simplico gold mine example1 we saw in the lecture notes Introduction to Real Options, that the value of the lease (Without the

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Returning to the Simplico gold mine example1 we saw in the lecture notes Introduction to Real Options, that the value of the lease (Without the enhancement option] was $24.11n. Without building a lattice1 how could you quickly verify that this price was (approximately) correct? Or to put it another way, can you find a quick way to estimate the price of the lease Without building a lattice and using backwards evaluation

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