14. S = $50, C (X=$60) = $14, C(X=$65) =$10, r=10%, T=2 years. All options are European and the stock does not pay a dividend. Which option is relatively more expensive? Explain. (Hint: Compute implied volatility). (C=call price, P=put price, S=stock price, X=exercise price, r=risk-free rate, T=maturity.)