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15.A stock is currently selling for $60. Over the next two periods, the stock will move up by a factor of 1.15 or down by
15.A stock is currently selling for $60. Over the next two periods, the stock will move up by a factor of 1.15 or down by a factor of .87 each period. A call option with a strike price of $60 is available. If the risk-free rate of interest is 3.2 percent per period, what is the value of the call option? (Do not round intermediate calculations. Round your answer to 2 decimal places.)
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