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Suppose a stock exists with a price of $17, and a put option on the stock exists with an exercise price of $32. What is

Suppose a stock exists with a price of $17, and a put option on the stock exists with an exercise price of $32. What is the approximate minimum value of the put option?

a)$15

b)$17

c)$0

d)$32

Please show working out.

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