Question: 2. (question 6.) Explain how the Black-Scholes-Merton model has been extended to overcome the assumption that default can only occur at maturity.

2. (question 6.) Explain how the Black-Scholes-Merton model has been extended to

2. (question 6.) Explain how the Black-Scholes-Merton model has been extended to overcome the assumption that default can only occur at maturity.

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