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Suppose a stock price can go up by 1 6 . 2 5 % or down by 1 4 . 2 5 % over the

Suppose a stock price can go up by 16.25% or down by 14.25% over the next year. You own a one-year put on the stock. The interest rate is 10%, and the current stock price is $65.
What exercise price leaves you indifferent between holding the put or exercising it now?
Note: Do not round intermediate calculations. Round your answer to 2 decimal places.
How does this break-even exercise price change if the interest rate is increased?

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