0.5 points An Investor is said to take a position in a "collar" if she buys the asset, buys an out-of- the-money put option on the asset, and sells an out-of-the-money call option on the asset. The two options should have the same time to expiration. Suppose Marie wishes to purchase a collar on Riggs, Inc., a non-dividend paying common stock, with six months until expiration. She would like the put to have a strike price of $62 and the call to have a strike price of $96. The current price of the stock is $76 per share. Marle can borrow and lend at the continuously compounded risk-free rate of 4 percent per year and the annual standard deviation of the stock's return is 50 percent. Use the Black-Scholes model to calculate the total cost of the collar that Marie Is Interested in buying. (Do not round Intermediate calculations and round your answer to 2 decimal places, e.g.. 32.16.) Cost of collar References