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What is the upper bound for the price of a 7-month European put option on a nondividend-paying stock when the stock price is $38.3, the

What is the upper bound for the price of a 7-month European put option on a nondividend-paying stock when the stock price is $38.3, the strike price is $40, the risk-free interest rate is 1.1% per annum.

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