16. According to the put-call parity relationship, the value of a European put option on a non- dividend paying stock is equal to (a) (b) (c) (d) the call value plus the present value of the exercise price plus the stock price the call value plus the present value of the exercise price minus the stock price the present value of the stock price minus the exercise price minus the call price the present value of the stock price plus the exercise price minus the call price