Use the Black-Scholes model to find the value for a European putoption that has an exercise price of $34.00 and 0.3333 years toexpiration. The underlying stock is selling for $26.00 currentlyand pays an annual dividend yield of 0.03. The standard deviationof the stock’s returns is 0.3500 and risk-free interest rate is0.08. (Round your final answer to 2 decimal places. Do notround intermediate calculations.)
Put value $
