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The current price of a non-dividend-paying stock is $100. Every three months, it is expected to go up or down by 18% or 14%, respectively.

The current price of a non-dividend-paying stock is $100. Every three months, it is expected to go up or down by 18% or 14%, respectively. The risk-free rate is 6% per year with continuous compounding. Compute the price of an American put option with a strike price of $98 and maturity of 6 months written on the stock.

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