Given the following parameters use put-call parity to determine the price of a put option with the same exercise price.

Current stock price:	$47.00
Call option exercise price:	$50.00
Sales price of call options:	$3.80
Months until expiration of call options:	3
Risk free rate:	5.0 percent
Compounding:	continuous

Price of put option = $4.36

Price of put option = $6.18

Price of put option = $7.43