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As the owner of the Crickley Hall building, currently valued at $ 4 million, you are concerned about the potential price risk your real estate

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As the owner of the Crickley Hall building, currently valued at $ 4 million, you are concerned about the potential price risk your real estate is exposed to. You plan on retiring 5 years from now and you intend to sell Crickley Hall at $5 million at that time to set up a pension annuity. Other real estate properties near Crickley Hall are expected to experience a volatility of 50%. The risk free rate is 5%. How much do you need to pay to buy a put option on the Crickley Hall, Express you answer in millions of dollars with 2 decimals

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