A stock is currently selling for $42. In one period, the stock will move up by a factor of 1.23 or down by a factor of .93. A call option with a strike price of $49 is available. If the risk-free rate of interest is 2.5 percent for this period, what is the value of the call option?

A stock is currently selling for $42. In one period, the stock will move up by a factor of 1.23 or down by a factor of .93. A call option with a strike price of $49 is available. If the risk-free rate of interest is 2.5 percent for this period, what is the value of the call option? (Do not round intermediate calculations. Round your answer to 2 decimal places. Omit the "$" sign in your response.) Value of the call option