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 22% or go down by 22%. 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. The price of the one-year put option is S (Round to the nearest cent.)