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= You buy a share of stock, write a one-year call option with X = $26, and buy a one-year put option with X =

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= You buy a share of stock, write a one-year call option with X = $26, and buy a one-year put option with X = $26. Your net outlay to establish the entire portfolio is $24.60. What must be the risk-free interest rate? The stock pays no dividends. (Do not round intermediate calculations. Round your answer to 2 decimal places.) Payoff Risk-free rate %

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