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A stock price is currently $50. It is known that at the end of six...

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A stock price is currently $50. It is known that at the end of six months that the stock price will either increase or decrease by 10%. The risk-free interest rate is 6% per annum with continuous compounding. What is the value of a six-month European put option with a strike price of $51? Equations you may find helpful: (required precision 0.01-0.01)

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