The stock price of Bravo Corp. is currently $150. The stock price a year from now will be either $265 or $115 with equal probabilities. The interest rate at which investors invest in riskless assets is 5%. Using the binomial OPM, the value of a put option with an exercise price of $200 and an expiration date 1 year from now should be worth __________ today. (Round intermediate calculation to 2 decimal places)

multiple choice

• $49.43

• $66.00

• $58.36

• $27.55