The current stock price of Johnson & Johnson is $48, and the stock does not pay dividends. The instantaneous risk-free rate of return is 7%. The instantaneous standard deviation of J&J's stock is 25%. You want to purchase a put option on this stock with an exercise price of $43 and an expiration date 50 days from now. Using Black-Scholes, the put option should be worth ______ today.

multiple choice

.12

.19

5.24

5.60