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Toyo Ventures Holdings Berhad has a share price at RM26.70 and the company is expected to pay a dividend of RM0.80 per share in August

Toyo Ventures Holdings Berhad has a share price at RM26.70 and the company is expected to pay a dividend of RM0.80 per share in August 2021.The exercise price is announced at RM28.50. The risk-free interest rate is 15.3 percent per annum, the variance is 8.6 percent. A put option will expire in 1 year 3 months period. Calculate the value of put option.

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