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The price of a stock, which pays no dividends, 15$29 and the strike price of a 8-month European call option on the stockis 521 .

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The price of a stock, which pays no dividends, 15$29 and the strike price of a 8-month European call option on the stockis 521 . The riskfree rate is 4.2% (continuously compounded). Find the lower bound for the option such that there are arbitrage opportunities if the price is below the lower bound and no arbitrage opportunities if it is above the lower bound. (Keep 2 decimal pioces)

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