IBM stock currently sells for 49 dollars per share. Over 12 month(s) the price will either go up by 11.5 percent or down by -7.0 percent. The risk-free rate of interest is 4.5 percent continuously compounded. If the stock goes down, what is the payoff of a put option with a strike price of 50.

Group of answer choices

0.000

2.500

3.500

4.430

4.635