This question calculates the price of a European put option using the Black-Scholes model. The parameters are:

• S₀ = 50
• K = 50
• r = 10%
• σ = 30%
• T = 0.25 years

The calculations show:

• d₁ = 0.2417
• d₂ = 0.0917
• N(-d₁) = N(-0.2417) = 0.4045
• N(-d₂) = N(-0.0917) = 0.4634

The put option price formula is: $p = Ke^{-rT}N(-d_2) - S_0N(-d_1)$ $p = 50e^{-0.1 \times 0.25} \times 0.4634 - 50 \times 0.4045 = 2.37$