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Stock price today is 20 . It can go to either 22 , or 18 in three months. Risk free rate is 12%. The call

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Stock price today is 20 . It can go to either 22 , or 18 in three months. Risk free rate is 12%. The call option has a strike price of 21 . We can buy a certain number of shares and sell calls to construct a risk-less portfolio. What is the present value of the riskless portfolio? 4 4.37 3.7

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