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The price of Time Squared Corp. stock will be either $77 or $93at the end of the year. Call options are available with one year

The price of Time Squared Corp. stock will be either $77 or $93at the end of the year. Call options are available with one year to expiration. T-bills currently yield 6 percent. The current price of Time Squaredstock is $80. Use the Binomial model to find the value of the call option if the exercise price is $85per share

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