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The price of a European call option on a stock with a strike price of $56 is $6. The stock price is $45. The continuously
The price of a European call option on a stock with a strike price of $56 is $6. The stock price is $45. The continuously compounded risk-free rate is 6% per annum and the time to maturity is one year. A dividend of $1 is expected in six months. What is the price of a one-year European put option on the stock with a strike price of $56? Round your answer to 2 decimal places.
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