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Suppose you bought a Put option for $2.00 on company ABCD stock with an exercize price of $60. At the time of expiration, ABCD stock

Suppose you bought a Put option for $2.00 on company ABCD stock with an exercize price of $60. At the time of expiration, ABCD stock is trading for $47.00.

How much is the Put Option Payoff at the time of expiration? Enter your answer in the following format: 12.34 Hint: Answer is between 9.79 and 11.88

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