A company is expecting to receive a payment of $1000 at the end of 3 years. To hedge its currency exposure, it would like to purchase a put option allowing it to sell $1100 for 625. You are given: The current exchange rate is $1.50 / 1. A dollar-denominated European call option on pounds with strike price 1.45 sells for 0.1908. A dollar-denominated European put option on pounds with strike price 1.45 sells for 0.0310. A dollar-denominated European put option on pounds with strike price 1.60 sells for 0.0772. The continuously compounded risk-free interest rate in pounds is 0.03. Calculate the price in pounds for the European put option which the company needs.