Compute the price of a European put option on a futures given the following specifications: the option maturity is 10 months; the risk-free interest rate is 6% per annum; the strike price is $70; the futures volatility is 16% per annum; the current futures price is $68. (A) 5.04 (B) 4.85 (C) 5.14 (D) 4.94 (E) 4.75