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You are evaluating a put option on F with a strike price of $510. IFF is able to develop a new technology, the price per

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You are evaluating a put option on F with a strike price of $510. IFF is able to develop a new technology, the price per share will go up to $791. Otherwise, the price will go down to $321. Let's assume that these are the only two possible scenarios. Fshares today are trading at $496. You know that the risk-free rate is 5% What is the price of this put option? Please round your answer to the nearest three decimals (i.e. 5.44). Please do not type the $ symbol

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