Question: Please write step by step, thank you! A stock with a current price of $60 has a put option available with a strike price of

Please write step by step, thank you! A stock with a

Please write step by step, thank you!

A stock with a current price of $60 has a put option available with a strike price of $57. The stock will move up by a factor of 1.33 or down by a factor of 0.90 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.) Price of the put option

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