We have a put option on a stock without dividends with a maturity date of 3 years. The standard deviation of the annual continuously compounded rate of return is 0.3, the risk-free interest rate is 0.06, the spot price is 9$ and the strike price is 10$. Unit of time interval is h=3/4 years. Calculate the fair premium of the put option using the binomial model with 4 periods.