Consider a European call option on a non-dividend-paying stock when the stock price is $30, the exercise price is $27, the risk-free interest rate is 4% per annum, the volatility is 23% per annum, and the time to maturity is four months. Find the inverse of the standard normal cumulative distribution, with a probability equal to the probability that the option will be exercised in a risk-neutral world. Hint: before you jump to your Excel right away and start typing the NORM.S.INV formula, consider pausing for a little bit to think what the actual question is.

Enter your answer rounded to four decimal places. For example, if your calculation results in 0.1234567 , you only need to enter 0.1234