4. Consider a put warrant option on HSBC with eX-dividend dates in 5 months and 7 months. The dividends on each eX-dividend dates is expected to be $0.75. The So is $50, the X is $60, the 6 is 20% per aunurn, the continuously compounded r is 4% per annum, and T is 9 months. Assume that the conversion ratio is 10 and there are 4,000 calls on the stock per lot of option. Calculate the warrant price and the value per lot of call warrants. (10 marks]