Use the Black-Scholes model to find the value for a European put option that has an exercise price of $62.00 and four months to expiration. The underlying stock is selling for $64.50 currently and pays an annual dividend of $1.32. The standard deviation of the stock’s returns is 0.11 and risk-free interest rate is 3.0%. (Round intermediary calculations to 4 decimal places. Round your final answer to 2 decimal places.)
Put Value $