Use DerivaGem to calculate the value of an American put option on a nondividend paying stock when the stock price is $40, the strike price is $42, the risk-free rate is 5%, the volatility is 35%, and the time to maturity is 1.5 years. (Choose Binomial American for the option type and 50 time steps.)

Using a trial and error approach calculate how low the stock price would have to be for the time value of the option to be zero.