1. (20 points) For a 6-month European put option on a stock, you are given: (a) The time-0 stock price is 45. (b) The strike price is 44. (c) The continuous dividend rate for the stock is 3%. (d) The stock's annual volatility is 10%. (e) The continuously compounded risk-free interest rate is 4%. (1) Determine the time-0 Black-Scholes premium for the option. (2) If the time- stock price is 46, determine the time- Black-Scholes premium for the 3-month otherwise identical option. 1. (20 points) For a 6-month European put option on a stock, you are given: (a) The time-0 stock price is 45. (b) The strike price is 44. (c) The continuous dividend rate for the stock is 3%. (d) The stock's annual volatility is 10%. (e) The continuously compounded risk-free interest rate is 4%. (1) Determine the time-0 Black-Scholes premium for the option. (2) If the time- stock price is 46, determine the time- Black-Scholes premium for the 3-month otherwise identical option