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TexasCo. stock is currently valued at $40 per share. The volatility of TexasCo. equity is 30 percent per year and the continuously compound risk-free rate

TexasCo. stock is currently valued at $40 per share. The volatility of TexasCo. equity is 30 percent per year and the continuously compound risk-free rate is 1 percent per year. What is the Black/Scholes value of a European put option written on TexasCo stock that has an exercise price of $35 and expires in a half a year (T = .5)?

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