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The price of a three-month future contract on the S&P 500 index is traded at 2355....

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The price of a three-month future contract on the S&P 500index is traded at 2355. Use a 9 step binomial tree model to valuean American put on the future contract assuming K=2400, r=1%,s=15%. The price of the American put option is ___________.

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