You are interested in purchasing a European call on a hot new stock, Cool Inc. The call has a strike price of $100 and expires in 90 days. The current price of Cool stock is $120, and the stock has a standard deviation of 40% per year. The risk-free interest rate is 6.18% per year. a. Using the Black-Scholes formula, compute the price of the call. b. Use put-call parity to compute the price of the put with the same strike and expiration date.