You have observed the following monthly closing prices for stock XYZ: Date January 31, 2021 February 29, 2021 March 31, 2021 April 30, 2021 May 31, 2021 June 30, 2021 July 31, 2021 August 31, 2021 September 30, 2021 October 31, 2021 November 30, 2021 December 31, 2021 Stock Price 105 120 115 110 115 110 100 90 105 125 110 115 The following European option is on stock XYZ. The one-year option was purchased on January 2, 2021. A lookback option allows the option purchaser to "look back, or review. the prices. of an underlying asset over the lifespan of the option after it has been purchased. The holder may then exercise the option based on the most beneficial price of the underlying asset. You purchased a lookback put on the above stock with a strike price of 85. What is the payoff of this option (to two decimal places)?