Company SilverBrigde has a stock price of €75. SilverBridge is exposed to a competitive risk which has 20% changes to decrease the value of the stock by 30% within the next year. It is possible to buy...

Company SilverBrigde has a stock price of €75. SilverBridge is exposed to a competitive risk which has 20% changes to decrease the value of the stock by 30% within the next year. It is possible to buy a put with a strike price of €70 and a maturity of one year, for €1. An investor considers buying the stock and a put option to mitigate risks.
What is the potential downside (maximum loss potential in €) related to owning the stock for a year, related to the risk factor, if the investor does buy the option?