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The price of oil is $120 per barrel.The effective lease rate and risk free rate are 5.0% and 6.0%,respectively.The constant cost of extraction is $105 per barrel and the volatility of prices is 18.0%.What is the value of an option to defer extraction?
Feeling
A subjective experience of emotions, reflecting a personal perception of emotions that can vary widely between individuals and situations.
Scapegoat
An individual or group blamed for wrongdoings, mistakes, or faults of others, often as a means of deflecting attention or responsibility.
Victim
A person harmed, injured, or killed as a result of a crime, accident, or other event or action.
Pariah
An individual who is despised or avoided by others; an outcast.
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