The current Canadian dollar (CAD) / USD exchange rate is $0.75 per CAD. The volatility of CAD is 15%. The risk-free interest rates for USD and CAD are 2.7% and 1.4% per year, respectively, with continuous compounding. Compute the price of a 6-month American put option on CAD in a 2-step CRR binomial model. The strike price of the put is the current 2-month forward price for CAD. When should the put be early exercised? (Keep 6 digits after the decimal point in your calculations)