The current market value of the assets of Smethwell, Inc. is $80 million, with a standard deviation of 17 percent per year. The firm has zero-coupon bonds outstanding with a total face value of $50 million. These bonds mature in 3 years. The risk-free rate is 3 percent per year compounded continuously. What is the value of d1?

2.11

2.05

2.43

2.27

2.35