The current price of one share of XYZ stock is 56.50. XYZ pays no dividends. A short straddle (one short call and one short put) on the stock with a strike price K and one year to expiration has a maximum profit of 12.00. The price of a call option on XYZ stock with a strike price K and one year to expiration is 7.00. The continuously compounded risk-free interest rate is 6%. What is the price of the put option with a strike price K and one year to expiration?