For a stock whose time-t price is S(t), you are given: i) S (0) = 50 ii) The stock pays dividends continuously at a rate proportional to its price. The dividend yield is 2% iii) The stocks volatility is 30% You are also given that the continuously compounded risk-free interest rate is 8% Calculate the time-0 delta of a one year bear-put spread with lower strike price of 50 and upper strike price of 75. Possible Answers -0.12 B -0.23 C -0.25 D-0.47 -0.49