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Use the Black-Scholes formula for the following stock: Time to expiration 6 months Standard deviation 53% per year Exercise price $43 Stock price $41 Annual

Use the Black-Scholes formula for the following stock:


Time to expiration	6 months
Standard deviation	53% per year
Exercise price	$43
Stock price	$41
Annual interest rate	3%
Dividend	0

Calculate the value of a put option. (Do not round intermediate calculations. Round your answer to 2 decimal places.)

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