A stock is currently priced at $$49$ and will move up by a factor of $1\mathrm{.}48$ or down by a factor of $0\mathrm{.}88$ each period over each of the next two periods. The risk$-$free rate of interest is $3$ percent. What is the value of a put option with a strike price of $$69?$

Note: Do not round intermediate calculations. Round your answer to $2$ decimal places.