You are attempting to value a put option with an exercise price of $106 and one year to expiration. The underlying stock pays no dividends, its current price is $106, and you believe it has a 50% chance of increasing to $125 and a 50% chance of decreasing to $87. The risk-free rate of interest is 8%. Calculate the value of a put option with exercise price $106. (Do not round intermediate calculations. Round your answer to 2 decimal places.)

Two products, qi and vh, emerge from a joint process. product qi has been allocated $34,300 of the total joint costs of $55,000. a total of 2,900 units of product qi are produced from the joint process. product qi can be sold at the split-off point for $11 per unit, or it can be processed further for an additional total cost of $10,900 and then sold for $13 per unit. if product qi is processed further and sold, what would be the financial advantage (disadvantage) for the company compared with sale in its unprocessed form directly after the split-off point?