The options on the stock of the Bernard have the following input values:

Stock price = RM55

Strike price = RM52

Risk-free rate = 0.10

Standard deviation = 0.33

Time to maturity = 0.4

(Assume that no dividends are currently being paid and use BSOPM model)

Determine the value of a put on Bernard's stock.

a.

RM2.95

b.

RM2.65

c.

RM2.13

d.

RM1.75