The current market price of NPT shares is $30 and the share price is expected to change once only at the end of each month. Assume the continuous risk free interest rate is 5% p.a. and the volatility of the return of NPT is 15% p.a. . What is the risk neutral probability that a one-month NPT put option with a strike price of $30 will reach in-the-money at the end of the month?

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