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Suppose the S&P 500 is at 888, and it will pay a dividend of $25 at the end of the year. Assume an interest rate

Suppose the S&P 500 is at 888, and it will pay a dividend of $25 at the end of the year. Assume an interest rate of 4%. If a one-year European put option has a negative time value, what is the lowest possible strike price it could have?

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