What is the lowest bound price of a five-month european put


The price of a non-dividend paying stock is $25 and the price of a five-month European call option on the stock with a strike price of $27 is $1.5. The risk-free rate is 6.5% per annum with continuous compounding. What is the lowest bound price of a five-month European put option with a strike price of $27?

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Financial Management: What is the lowest bound price of a five-month european put
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