Consider the following information about a non-dividend paying stock.

Current Stock Price St	$55
Return Standard Deviation	40% per year
Dividend Rate	0% per year
Risk-free Rate (continuously compounded)	6% per year

1. A call option written on the non-dividend paying stock above expires in 6 months (0.5 year) and has an exercise price of $50. Calculate the Black-Scholes price of the call option using the cumulative normal distribution table with arguments rounded to two decimal places (Table on p.34 of Chapter 15-16 Lecture Slides or Table 16-2 on p.523 of the textbook).