Consider an American call option. The option expires in 6 month. The strike price of the option is 60. The current stock price is $68. The stock will pay 5 dollars dividend in exactly 3 months. No other dividend is expected before the expiry of the option. The volatility of the stock is 30 percent. The continuously compounded risk-free rate of return is 5 percent. Compute the premium of this call option using a compound option. Assume that the premium of the compound option is $0.284