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A stock is currently selling for $ 4 5 . In one period, the stock will move up by a factor of 1 . 1

A stock is currently selling for $45. In one period, the stock will move up by a factor of 1.15 or down by a factor of 0.87. A call option with a strike price of $50 is available. If the risk-free rate of interest is 2.5 percent for this 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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