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 $63.00 currently and pays an annual dividend of $1.62. The standard deviation of the stocks returns is 0.16 and risk-free interest rate is 4.0%. (Round intermediary calculations to 4 decimal places. Round your final answer to 2 decimal places.)

Put value $