For a European put option on an index, the index level is 3,000, the strike price is 3,100, and the time to maturity is 6 months. If the dividend yield on the index is 2% and the risk-free rate is 4% (both per annum and with continuous compounding), how low can the put option price be without there being an arbitrage opportunity (i.e., what is the index put options lower bound)