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The current stock price of National Paper is $69, and the stock does not pay dividends. The instantaneous risk-free rate of return is 10%.

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The current stock price of National Paper is $69, and the stock does not pay dividends. The instantaneous risk-free rate of return is 10%. The instantaneous standard deviation of National Paper's stock is 25%. You want to purchase a put option on this stock with an exercise price of $70 and an expiration date 73 days from now. Using the Black-Scholes, the put option should be worth today.

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