For a certain stock, Investor A purchases a 45-strike call option while Investor B purchases a 135-strike

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For a certain stock, Investor A purchases a 45-strike call option while Investor B purchases a 135-strike put option. Both options are European with the same expiration date. Assume that there are no transaction costs.

If the nal stock price at expiration is S, Investor A's payo will be 12.

Calculate Investor B's payo at expiration, if the nal stock price is S.

(A) 0 

(B) 12 

(C) 36 

(D) 57 

(E) 78

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