The current price of Natasha Corporation stock is $$6\mathrm{.}00.$ In each of the next two years, this stock price can either go up by $$2\mathrm{.}50$ or go down

by $$2\mathrm{.}00.$ The stock pays no dividends. The one$-$year risk$-$free interest rate is $3\mathrm{.}0\%$ and will remain constant. Using the Binomial Model,

calculate the price of a two$-$year put option on Natasha stock with a strike price of $$7\mathrm{.}00.$