Question: A call option and a put option are available on a stock that is currently selling for $38. Both options have an exercise price of

A call option and a put option are available on a stock that is currently selling for $38. Both options have an exercise price of $35and expire in 3 months. The calls premium is $11.25. The continuously compounded risk-free rate is 8.00% (r=.08). The stock does not pay dividends. What is the price of the put?

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