You would like to be holding a protective put position on the stock of XYZ Company to lock in a guaranteed minimum value of $$60$ at year$-$end. XYZ currently sells for $$60.$ Over the next year, the stock price will either increase by $10\%$ or decrease by $10\%.$ The T$-$bill rate is $5\%.$ Unfortunately, no put options are traded on XYZ Company.

Required:

a$.$ How much would it cost to purchase if the desired put option were traded? $($Do not round intermediate calculations. Round your answer to $2$ decimal places.$)$

b$.$ What would be the cost of the protective put portfolio? $($Do not round intermediate calculations. Round your answer to $2$ decimal places.$)$