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You are given the following information about EEE stock: The spot price of EEE stock is $1.50. An American style Put option P(100, 1 month)

You are given the following information about EEE stock:

The spot price of EEE stock is $1.50.

An American style Put option P(100, 1 month) has a premium of $99.00. The risk free interest rate is 8% compounded continuously.

EEE stock does not pay a dividend.

State whether we can rule out early exercise of this option and why.

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