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The following price quotations are for exchange-listed options on Apple common stock. Company Strike Expiration Call Put Apple 54 Feb 4.22 0.35 With transaction costs

The following price quotations are for exchange-listed options on Apple common stock.

Company

Strike

Expiration

Call

Put

Apple

54

Feb

4.22

0.35

With transaction costs ignored, how much would a buyer have to pay for one put option contract. Assume each contract is for 100 shares.

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