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Assume a stock is trading at $100, the volatility of the stock is 26%, and...

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Finance

Assume a stock is trading at $100, the volatility of the stock is 26%, and the risk-free interest rate is 4.3%. For a $101 strike American put option expiring in 75 days, what is the option price when using a two-step binomial tree to price the option? Please answer to 2 decimal places.

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