Question: A stock is currently selling for $ 4 5 . Over the next two periods, the stock will move up by a factor of 1

A stock is currently selling for $45. Over the next two periods, the stock will move up by a factor of 1.23 or down by a factor of 0.61 each period. A call option with a strike price of $54 is available. If the risk-free rate of interest is 3.2 percent per period, what is the value of the call option?Note: Do not round intermediate calculations. Round your answer to 2 decimal places.

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