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Which of the following statements regarding the Black-Scholes-Merton option-pricing model is TRUE? A. The Black-Scholes-Merton option-pricing model is the discrete time equivalent of the binomial option-pricing model. B. The Black-Scholes-Merton model is superior to the binomial option-pricing model in its ability to price options on assets with periodic cash flows. C. As the number of periods in the binomial options-pricing model is increased toward infinity, it converges to the Black-Scholes-Merton option-pricing model. D. As the periods in the binomial option-pricing model are lengthened, it converges to the Black-Scholes-Merton option-pricing model. |