The current stock price is $$55,$ and its volatility is $40\%.$ What is the price of a European put option with a strike price of $$60$ and time to maturity of $1$ year. The risk$-$free interest rate is $7\%$

continuously compounded. Use the Black$-$Scholes$-$Merton model. Do this by hand and not the spreadsheet except for looking up $N(d_2)$ and $N(d_2)$ using the $N(d_1)=$ normsdist $(d1)$ formula.

A$.$ $$9\mathrm{.}27$

B$.$ $$9\mathrm{.}68$

C$.$ $$10\mathrm{.}11$

D$.$ $$10\mathrm{.}89$

E$.$ $$11\mathrm{.}23$