Assume that the markets are reasonably efficient. Vaccine Inc. is a biotechnology firm that is about to announce the results of its clinical trials of a potential new vaccine for COVID-19. If the trials are successful, Vaccine Inc. stock will be worth $80 per share. However, if the trials are not successful, then Vaccine Inc. stock will only be worth $12 per share. If on the morning that the announcement is scheduled, Vaccine Inc. stock is trading for $60.96, then the probability that investors place on the trials being successful are closest to:

A. 50% B. 60% C. 88% D. 48% E. 72%