Use the Black-Scholes model to find the value for a European put option that has an exercise price of $62.00 and four months to expiration. The underlying stock is selling for $65.00 currently and pays an annual dividend of $1.77. The standard deviation of the stock's returns is 0.19 and risk-free interest rate is 4.5%.(Round intermediary calculations to 4 decimal places. Round your final answer to 2 decimal places.)

Put value$_________