The current stock price of Johnson & Johnson is $46, and the stock does not pay...

The current stock price of Johnson & Johnson is $46, and the stock does not pay dividends. The instantaneous risk-free rate of return is 6%. The instantaneous standard deviation of J&J's stock is 40%. You want to purchase a put option on this stock with an exercise price of $37 and an expiration date 45 days from now.

Using Black-Scholes, the put option should be worth ______ today.

	.06
	.13
	9.05
	9.41

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