Assume that the Black-Scholes framework holds. The price of a stock is $86. The volatility of the stock is 30%. The stock pays continuously compounded dividends at a rate of 3%. The continuously compounded risk-free rate of return is 9.5%. A 9-month European call option on the stock has a strike price of $88. Under the Black-Scholes framework, calculate the price of the European call option. A) 6.52 B) 7.74 C) 9.70 D) 11.77 E) 12.10