On March 1, 2022, Hudson Corp. purchased a put option on shares of ICA stock. The contract was for 100 shares at a strike price of $100 per share, with an expiration date of May 31, 2022. The option contract premium (the amount paid to enter the contract at signing) was $50. On March 31, a market appraisal estimated the time value of the option to be $40. Hudson settled the option contract on May 10. Prices of ICA stock during the option period are provided below. Price of ICA stock March 1 $100 March 31 $90 May 10 $95 At what amount would Hudson report as the value of the put option in its March 31, 2022 balance sheet? Put Option account balance as of March 31, 2022 $ 1,000