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Using the Cox-Ross-Rubinstein Formula, calculate the price of a European call option and put option with the following parameters S(0) = 61, R =

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Using the Cox-Ross-Rubinstein Formula, calculate the price of a European call option and put option with the following parameters S(0) = 61, R = 0.05, U = .30, D = -0.10, N = 3 time steps and Strike: 60. Show your work. Do not use a option calculator from the web.

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