(Answered) A stock with a current price of 67 has a put option

Finance

A stock with a current price of $67 has a put option available with a strike price of $65. The stock will move up by a factor of 1.31 or down by a factor of .84 over the next period and the risk-free rate is 3 percent. What is the price of the put option? (Do not round intermediate calculations. Round your answer to 2 decimal places. Omit the "tiny_mce_markerquot; sign in your response.)

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