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Suppose that the current Bitcoin futures price is $ 6 0 , 0 0 0 , and the risk free rate is 5 % per

Suppose that the current Bitcoin futures price is $60,000, and the risk free rate is 5% per annum (with continuous compounding). What is the lower bound of the value of a six-month put option on one Bitcoin futures contract with a strike price of $62,500?(Hint: assume each futures contract represents one unit of the underlying asset, and express your answer in dollar term to the nearest cent.)

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