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Suppose Carol's stock price is currently $20. In each six-month period, it will either fall by 50 percent or rise by 100 percent. What is

Suppose Carol's stock price is currently $20. In each six-month period, it will either fall by 50 percent or rise by 100 percent. What is the current value of a one-year call option with an exercise price of $15? The annual risk-free interest rate is 10 percent per annum. Use the two-stage binomial method. Work on at least 3 decimals.

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