A farmer holds a put option to sell 10 cows with strike price $1,000 and exercise time 1 year. Suppose A(0) = $100, A(1) = $110, the current price for 10 cows is $900, and the two possible prices for 10 cows at t = 1 are $950 with probability 0.5, $1, 050 with probability 0.5. Find the put option price P(0). (You need to find out distribution for P(1) first.)