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You buy a share of stock, write a one-year call option with X = $25, and buy a one-year put option with X= $25.

You buy a share of stock, write a one-year call option with X = $25, and buy a one-year put option with X= $25. Your net outlay to establish the entire portfolio is $23.60. 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 5.93 %

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