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You are given (1) A stock's price is 45. (2) The continuously compounded risk-free rate is 6%. (3) The stock's continuous dividend rate is 3%.

You are given

(1) A stock's price is 45.

(2) The continuously compounded risk-free rate is 6%.

(3) The stock's continuous dividend rate is 3%.

A European 1-year call option with a strike of 50 costs 6.

Determine the premium for a European 1-year put option with a strike of 50.

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