Gasworks. Incorporated, has been approached to sell up to 4.8 million gallons of gasoline in three months at a price of $3.60 per gallon. Gasoline is currently selling on the wholesale market at $3.50 per gallon and has a standard deviation of 64 percent. If the risk-free rate is 3 percent per year, what is the value of this option? Use the two-state model to value the real option. (Do not round intermediate calculations and enter your answer in dollars, not millions of dollars, rounded to 2 decimal places, e.g., 1,234,567.89