As with the previous problem, assume that a stock costs $50 and that between now and Period 1, the stock will either increase in price by 20% or decrease by 10%. The risk-free rate is 5% per period. Put Option #1 expires one period from now and has a strike price of $50. Put Option #2 expires one period from now and has a strike price of $60. Use the same binomial trees that show what Put #1 and Put #2 should be worth today. Now assume that Put #1 is actually selling for $2.49 and Put #2 is actually selling for $6.43, so you decide to simultaneously buy 1 of the underpriced put and sell THREE of the overpriced put. What is your arbitrage profit? Round your answer to the nearest penny. Think about how this arbitrage works.