For an American call option on a stock, you are given: (i) The strike price is 50 . (ii) The continuously compounded risk-free interest rate is 0.04. (iii) The stock pays continuous dividends proportional to its price at a rate of 0.03. (iv) With 6 months to expiry, exercise of the option is optimal when the stock price is 80 . Calculate the highest possible price for a 6-month European put option on a stock worth 80 with strike price 50