You own a lot in Key West, Florida, that is currently unused. Similar lots have recently sold for $$1,270,000.$ Over the past five years, the price of land in the area has increased $7$ percent per year, with an annual standard deviation of $33$ percent. A buyer has recently approached you and wants an option to buy the land in the next $12$ months for $$1,420,000.$ The risk$-$free rate of interest is $5$ percent per year, compounded continuously. How much should you charge for the option?

Note: Do not round intermediate calculations and enter your answer in dollars, not millions of dollars, rounded to $2$ decimal places, e$.$g$.,1,234,567\mathrm{.}89.$