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On 1 May 20XX, Charlie Ltd.s share price is $3.27. The risk-free rate of interest is 1% per month. Charlie Ltd. Does not pay dividends

On 1 May 20XX, Charlie Ltd.s share price is $3.27. The risk-free rate of interest is 1% per month. Charlie Ltd. Does not pay dividends and options on Charlie shares expire at the end of the expiry month. What is the minimum value of the June $3.75 American put option?

A) $0.349

B) $0.406

C) $0.000

D) $0.480

E) None of the above answers is correct.

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