You are considering purchasing a put option on LOGAN stock with a current price of $46. The exercise price is $48, and the price of the corresponding call option is $3.65. According to the put-call parity theorem, if the risk-free rate of interest is 6% and there are 90 days until expiration, the value of the put should be .

Aproduction department's output for the most recent month consisted of 8,000 units completed and transferred to the next stage of production and 5,000 units in ending work in process inventory. the units in ending work in process inventory were 50% complete with respect to both direct materials and conversion costs. calculate the equivalent units of production for the month, assuming the company uses the weighted average method.