a stock price which pays no dividends is 47$ and the strike price of 2 european put option is 59. the risk free rate is 3% ( continuosly compounded). which kf the following is a lower bound for the option such that there are arbitrage opprtunitues uf the price is below the lower bound and no arbirtage opportunitues if its above the lower bound?

8.56 or 47 or 102.56 or 55.56