Consider a stock that is priced at $52 per share. The stocks volatility is 18%, the stock does not pay dividends, and the interest rate for continuous compounding is 1.5%. Use the Black-Scholes option pricing model to find the price per share for each of the options listed below. The options expire in nine months.

1. (a) Calculate the price per share of a put option, where the strike price is equal to $50 per share.

2. (b) Calculate the price per share of a call option, where the strike price is equal to $55 per share.