For a six-month European put option on a stock, you are given:

(i) The strike price is $50.00.

(ii) The current stock price is $50.00.

(iii) The only dividend during this time period is $1.50 to be paid in four months.

(iv) σ = 0.30.

(v) The continuously compounded risk-free interest rate is 5%.

Under the Black-Scholes framework, calculate the price of the put option.

(A) $3.50

(B) $3.95

(C) $4.19

(D) $4.73

(E) $4.93