You observe a stock that is currently trading in the market for $21.71. The risk-free rate of return is 3.5% and the risk associated with the stock is 0.12 (annualized). According to the Black-Scholes model, the value of a call option that has a strike price of $25 and 3 months to expiration is $0.01. According to call-put parity, what should the put option be selling in the market for?

a. $3.00

b. $3.08

c. $3.20

d. $3.29