Use the information below to answer the following question. 
You own a lot in Key West, Florida, that you are considering selling. Similar lots have recently sold for $1.2 million. Over the past five years, the price of land in the area has varied with a standard deviation of 19 percent. A potential buyer wants an option to buy the land in the next 9 months for $1,310,000. The risk-free rate of interest is 7 percent per year, compounded continuously. How much should you charge for the option? Round your answer to the nearest $100.
Definitions:
Valet Manager
A person responsible for overseeing the operation of parking services and managing valet staff.
Logical Power
Logical power, often related to the concept of rational-legal authority, depends on an individual's ability to use logic and reason to persuade or influence others.
Coercive Power
A form of power that relies on the ability to punish or constrain others to comply with orders or requests.
Leader's Power
The capacity of a leader to influence, motivate, and enable others to contribute toward organizational success.
Q7: When consumers encounter a lot of information
Q10: Parkway Express needs $172,540 a week to
Q11: Use the information below to answer the
Q13: Food Express is analyzing the purchase of
Q16: In any one year, the chance that
Q34: Assume you put your purchases on your
Q38: Suppose an investor buys a call option
Q47: _ is the pigment contained in a
Q50: Which of the following statements is true
Q54: You would like the right to purchase