A 3-year bond carrying 3.1% annual coupon and $100-par is putable at par 1 year and 2 years from today. Calculate the value of the put option under the forward rate curve below. 1-year spot rate: 1.8%; 1-year spot rate 1 year from now: 2.6%; 1-year spot rate 2 years from now: 3.9%. Assume annual compounding.