The current price of Estelle Corporation stock is $23.00 . In each of the next two years, this stock price will either go up by 19% or go down by 19% . The stock pays no dividends. The one-year risk-free interest rate is 8.1% and will remain constant. Using the Binomial Model, calculate the price of a one-year put option on Estelle stock with a strike price of $23.00 .