You are considering a put option on a stock. It is currently July 1 and the option expires July 31. The strike price is $220 and the current spot price is $222.43. The risk-free rate is 4.86%. The implied volatility of the stock is 45%. a. What should the premium be for this option according to the Black-Scholes model? (4 points) b. The option is currently selling for $15.67. Is the option overpriced or underpriced based on your calculation in a.? Explain. (3 points)