Suppose the annualized continuously compounded risk free interest rate is 4% and the price of a 1-year call option with exercise price of $40 is $13. The price of 1-year call option with exercise price of $50 is $3. The current stock price is $50. What is the price of a 1-year put option with the exercise price of $40?

a.$11.57

b.$1.43

c.$26.54

d.$8.57

e.$40.00