The current price of a stock is $$61\mathrm{.}69$ and the annual effective risk$-$free rate is $10\mathrm{.}5$

percent. A call option with an exercise price of $$65$ and one year until expiration has

a current value of $$14\mathrm{.}29.$ What is the value of a put option written on the stock

with the same exercise price and expiration date as the call option? Show your

answer to the nearest $\mathrm{.}01.$ Do not use $ or$,$ in your answer. Because of the

limitations of WEBCT random numbers, some of the options may be trading below

their intrinsic value. Hint, to find the present value of the bond, you do not need to

make the $x$ adjustment, simple discount at the risk free rate.

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