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URGENT A)You observe a put option on ImpoExpo's stock, with an exercise price of $56 and time to maturity of one year, trading at $1.56.

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A)You observe a put option on ImpoExpo's stock, with an exercise price of $56 and time to maturity of one year, trading at $1.56. Can you construct a portfolio where you make a risk-free profit in a perfect market? Demonstrate your portfolio's net payoff when stock price rises or falls.(7marks)

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