you own a lot in key west, florida, that is currently unused. similar lots have recently sold for $1,230,000. over the past five years, the price of land in the area has increased 5 percent per year, with an annual standard deviation of 34 percent. a buyer has recently approached you and wants an option to buy the land in the next 12 months for $1,380,000. the risk-free rate of interest is 5 percent per year, compounded continuously. how much should you charge for the option? (do not round intermediate calculations and enter your answer in dollars, not millions, rounded to 2 decimal places, e.g., 1,234,567.89.)