Q.1708 The value of a foreign currency is $0.55. The risk-free interest rate is 4% and 8% per year in the U.S. and in the foreign country, respectively. The market price of a European call option on the foreign currency with a maturity of 1 year and a strike price of $0.57 is $0.0325. The implied volatility of the call is 14.5%. For there to be no arbitrage, the equation of the put-call parity relationship is to be applied with q equal to the foreign risk-free rate. What is the value of a put option according to the put-call parity?