Problem $16-7$ Black$-$Scholes Model $($LO$2,$ CFA$2)$

What is the value of a put option if the underlying stock price is $$46,$ the strike price is $$39,$ the underlying stock volatility is $51$ percent,

and the risk$-$free rate is $5\mathrm{.}4$ percent? Assume the option has $148$ days to expiration. $($Use $365$ days in a year. Do not round

intermediate calculations. Round your answer to $2$ decimal places.$)$

Value of a put option