The current price of a nondividend-paying stock is 40 and the continuously compounded risk-free interest rate is 8%. You are given that the price of a 35-strike call option is 3.35 higher than the price of a 40-strike call option, where both options expire in 3 months.

Calculate the amount by which the price of an otherwise equivalent 40-strike put option exceeds the price of an otherwise equivalent 35-strike put option.

(A) 1.55

(B) 1.65

(C) 1.75

(D) 3.25

(E) 3.35