(a) Consider a put option on a non-dividend paying stock when the stock price is 4.50, the exercise price is 5.00, the continuously compounded rate of return is 3.5% per annum, the volatility is 18% per annum and the time to maturity is 9 months. Using the Black-Scholes model: i. Calculate the price of the put option ii. Calculate and interpret the delta and gamma of the put option.