Chapter 16, Problem 2PS

A put option on a stock with a current price of $\$\text{33}$ has an exercise price of $\$\text{35}$ . The price of the corresponding call option is $\$\text{2}.\text{25}$ . According to put-call parity, if the effective annual risk-free rate of interest is $\text{4}\%$ and there are three months until expiration, what should be the price of the put? $\left(\text{LO 16}-\text{4}\right)$