Question: You are attempting to value a put option with an strike price of $ 1 1 0 and one year to expiration. The underlying stock

You are attempting to value a put option with an strike price of $110 and one year to expiration. The underlying stock price pays no dividends, its current price is $100, and you believe it has a 50% chance of increasing to $130 and a 50% chance of decreasing to $80. The risk-free rate of interest is 10%. What is the value of the put option? If necessary, round your answer to the nearest cent.

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