Question: You work for Innovation Partners and are considering creating a new security. This security would pay out $ 1 comma 0 0 0 in one

You work for Innovation Partners and are considering creating a new security. This security would pay out $1 comma 000 in one year if the last digit in the closing value of the Dow Jones Industrial index in one year is an even number and zero if it is odd. The one-year risk-free interest rate is 5.0%. Assume that all investors are averse to risk.

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