A stock is currently priced at $110, and the volatility is 32% per annum. Within the next one year, a dividend of $1.5 is expected after two months and again after eight months (Hint: There are two dividends). The risk-free rate of interest is 7% per annum with continuous compounding. Keep four decimal places for all calculations.

1) What is the value of a 10-month European put with a strike price of $110?