Question: A put option on a stock with a current price of $43 has an exercise price of $45. The price of the corresponding call option

A put option on a stock with a current price of $43 has an exercise price of $45. The price of the corresponding call option is $3.75. According to put-call parity, if the effective annual risk-free rate of interest is 4% and there are five months until expiration, what should be the price of the put? (Do not round intermediate calculations. Round your answer to 2 decimal places.)

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