I saw this same question answered twice, but both answers were wrong. Please solve this

Gasworks, Inc., 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.)