The current exchange rate of dollars to euros is $18/€11.The risk free rate for dollars is r = 3%. The risk free rate for euros is re = 4%. The dollar denominated price of an option to purchase €22 for $32 in six months is $5.09.
Determine the euro denominated price of a put option to sell $22 in six months using the given strike. (Hint: the strike comes from the statement €22 for $32.)