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What is a lower bound for the price of a 1 - month European put option on a non - dividend - paying stock when

What is a lower bound for the price of a

1 -

month European put option on a non

-

dividend

-

paying stock when the stock price is $

12,

the strike price is $

15,

and the riskfree

interest rate is

6 %

per annum?

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