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The current price of one share of ZZZ stock is 80. The stock does not pay dividends. The stocks volatility is 25% and the continuously

The current price of one share of ZZZ stock is 80. The stock does not pay dividends. The stocks volatility is 25% and the continuously compounded risk-free rate is 8%.Use a one-step binomial tree model to determine the price of a three-month put option on the stock with a strike price of 80.

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