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The current price of a stock is $41. During each 6-month period the price will either rise by 29% or fall by 22.5%.The annual interest

The current price of a stock is $41. During each 6-month period the price will either rise by 29% or fall by 22.5%.The annual interest rate is 8.16%.

Calculate the value of a one-year American PUT option on the stock with an exercise price of $40.

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