For a four-period binomial tree model for the dollar/pound exchange rate, you are given:

(i) The length of each period is 3 months.

(ii) The current dollar/pound exchange rate is 1.4.

(iii) u = 1.1 and d = 0.9, where u and d are one plus the percentage change in the dollar/pound exchange rate per period if the exchange rate goes up and if the exchange rate goes down, respectively.

(iv) The continuously compounded risk-free interest rate on dollars is 8%.

(v) The continuously compounded risk-free interest rate on pounds is 7%.

Calculate the price of a 1-year at-the-money dollar-denominated Bermudan call option on pounds, where exercise is allowed at any time following an initial 9-month period of call protection (i.e., exercise is allowed in 9 months and thereafter).