The current price of a non-dividend-paying stock is $66.5 and you expect the stock price to either go up by a factor of 1.446 or down by a factor of 0.713 each period for 2 periods over the next 1 years. Each period is 0.5 years long. A European put option on the stock has a strike price of $67 and expires in 1 years. The risk-free rate is 3% (annual, continuously compounded).

What is the current value of the option?