4) Consider an option on a dividend-paying stock when the stock price is $23, the exercise price is $21, the continuously compounded risk-free interest rate is 9% per annum, the volatility is 20% per annum, and the time to maturity is five months. The stock is expected to pay a dividend of $3 in three months. What is the price of the option if it is a European call? What is the price of the option if it is a European put? Does the put-call parity hold?