A put option written on the stock of Taylor Enterprises (TE) has an exercise price of $25 and 6 months remaining until expiration. The risk-free rate is 6%. A call option written on TE has the same...

A put option written on the stock of Taylor Enterprises (TE) has
an exercise price of $25 and 6 months remaining until expiration.
The risk-free rate is 6%. A call option written on TE has the same
exercise price and expiration date as the put option. TE’s stock price
is $35. If the call option has a price of $12.05, then what is the price
(i.e., value) of the put option? ($1.31)