The current price of ABC Co. is $66 a share and its (annualized) standard deviation is 45%. ABC wont pay any cash dividends within six months. A 6-month call option on ABC stock with a $65 exercise price is selling for $3. What is the put option price on ABC with the same exercise price ($65) and expiration date (6 months). Assume the risk-free rate is 5 percent and use continuous compounding.

	a.	$0.40
	b.	$1.48
	c.	$2.37
	d.	$3.40
	e.	$5.67