Please provide the steps to solve this problem. I know it was previously posted but the solution was hand written and a bit confusing for me. Thank you

IBM stock currently sells for $49 per share. Over 12 months the price will either go up by 11.5% or down by 7%. The risk-free rate of interest is 4.5% continuously compounded. What is the value of a put option with strike price 51 and maturity 12 months?

1.9353