Suppose a European put has an exercise price of $$110$ on February $5.$ The put

expires in $45$ days. Suppose the appropriate discount rate on Treasury bills maturing

in $44$ days is $7\mathrm{.}615\%.$ What is the maximum value of the European put?

$$110$

$$99\mathrm{.}05$

$$109\mathrm{.}64$

$$108\mathrm{.}95$