In addition to the five factors. dividends also affect the price of an option. The Black?Scholes Option Pricing Model with dividends is: C = Sx e^-dt N(d1) - Ex e^-Rt x N(d2) d1 = {in (S I E)+ (R-d + sigma^2| 2)x t](sigma -sq.root t) d2 = d1 - sigma x sq. root t All of the variables are the same as the Black-Scholes model without dividends except for the variable d. which is the continuously compounded dividend yield on the stock The put-call parity condition is also altered when dividends are paid. The dividend-adjusted put-call parity formula is: S x e^-dt + P = E x e^Rt + C where dis again the continuously compounded dividend yield. A stock is currently priced at $89 per share, the standard deviation of its return is 46 percent per year. and the risk-free rate is 4 percent per year. compounded continuously. What is the price of a put option with a strike price of $85 and a maturity of six months if the stock has a dividend yield of 2 percent per year? (Round your answer to 2 decimal places. (e.g., 32.16)) Price of put option $