Assume the Black-Scholes framework. You are given:

(i) The current price of a stock is 80.

(ii) The stock’s volatility is 25%.

(iii) The stock pays dividends continuously at a rate proportional to its price.

(iv) The continuously compounded risk-free interest rate is 5%.

(v) The continuously compounded expected rate of return on the stock, α, is 8%.

(vi) The true probability that a 1-year at-the-money European put option on the stock will be exercised is 0.4681.

Calculate the current price of the put option in (vi).