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The spot price of the market index is $900. After 3 months the market index is priced at $920. The annual rate of interest on

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The spot price of the market index is $900. After 3 months the market index is priced at $920. The annual rate of interest on treasuries is 4.8% (0.4% per month). The premium on the long put, with an exercise price of $930, is $8.00. Draw the profit graph for the long put position at expiration. Include strike price, breakeven price, and max loss. (3 points) 18

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