215. Vijay Singh works as an investment manager at Global Investment Company in New York. Global also provides brokerage services to its clients. Therefore, it is a usual task at Global to derive upper and lower boundaries for options so the prices are arbitrage free. Which of the following given options is the accurate estimation of the lower price boundary for European put options on a non-dividend paying stock that expires in 3 months, if the current stock price is $31, the strike price is $33, and the risk-free rate is 10%