Question: Verify that when there are transaction costs, the lower no-arbitrage bound is given by equation (5.12). S0 P5.5 + 0.7 BSCall(S0, S0,

Verify that when there are transaction costs, the lower no-arbitrage bound is given by equation (5.12).
S0 × P5.5 + 0.7 × BSCall(S0, S0, σ , r, 5.5, δ)

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