Required: You are attempting to value a call option with an exercise price of $100 and one year to expiration. The underlying stock pays no dividends, its current price is $100, and you belleve it has a 50% chance of increasing to $120 and a 50% chance of decreasing to $80. The risk-free rate of interest is 10%. Consider one share of stock and two written calls. Calculate the call option's value using the twostate stock price model. (Do not round intermediate calculations. Round your answer to 2 decimal places.)