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Suppose that S = $50, K = $45, = 0.30, r = 0.08, and t = 1. The stock will pay a $4 dividend in

Suppose that S = $50, K = $45, image text in transcribed = 0.30, r = 0.08, and t = 1. The stock will pay a $4 dividend in exactly 3 months. Compute the price of European and American call options using a four-step binomial tree. Do not use a computer program

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