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Using the Black-Scholes options pricing model. Calculate the call option premium on a stock with an exercise price of $105, which expires in 90 days.

Using the Black-Scholes options pricing model. Calculate the call option premium on a stock with an exercise price of $105, which expires in 90 days. The stock is currently trading for $100 and the monthly standard deviation on the stock return is 3%. The annual risk-free rate is 4% per year.

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