Letters of credit is _____.

A) an option to lend

B) an example of a contingent asset

C) an example of a contingent liability

D) an option to borrow

ABS stock is selling for $30 a share. Price of a 6-month call option with a strike price of $32 is $0.75. Risk-free rate is 0.75% per month. What is the price of a 6-month put option with a strike price of $32?

A) $1.09

B) None of the listed

C) $1.35

D) $1.53