The stock price of Apax Inc. is currently $100. you believe it has a 50% chance of increasing to $160 and a 50% chance of decreasing to $60. The interest rate at which investors can borrow is 6%. Using the binomial option pricing model, the value of a put option with an exercise price of $135 and an expiration date 1 year from now should be worth __________ today.

A.$45.45

B.$38.21

C.$37.50

D.$34.09