The price of a European call option on a non-dividend-paying stock with a strike price of $53 is $8. The stock price is $54, the continuously compounded risk-free rate (all maturities) is 5% and the time to maturity is one year. What is the price of a one-year European put option on the stock with a strike price of $53?

a.

$ 49.42

b.

$ 4.42

c.

$ 13.42

d.

None of the other answers provided is correct

e.

$ 3.58