Price of a put option with the same exercise price

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A stock is currently selling for $38 per share. A call option with an exercise price of $45 sells for $3.45 and expires in three months.

If the risk-free rate of interest is 4.47 % per year, compounded continuously, what is the price of a put option with the same exercise price? (Round answer to 2 decimal places. Do not round intermediate calculations).

Reference no: EM132646833

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