the stock price of Bravo Corp. is currently $110. The stock price a year from now will be either $200 or $65 with equal probabilities. The interest rate at which investors invest in riskless assets is 6%. Using the binomial OPM, the value of a put option with an exercise price of $130 and an expiration date 1 year from now should be worth __________ today.

$19.52

$39.00

$37.77

$32.56