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12. The current price of a non-dividend paying stock is 40 and the continuously compounded annual risk-free rate of return is 8%. You are given

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12. The current price of a non-dividend paying stock is 40 and the continuously compounded annual risk-free rate of return 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 opor an otherwise equivalent 35 -strike put option

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