Consider the market with one stock and one bond. We know the initial value of the stock S0 = 50 and the continuous compounding interest rate r = 1%. Also, we know the initial market price of a European call option with strike price K = 30 and maturity time T = 1 is CE,30 = 20 and the 0 initial market price of another European call option with strike price K = 60 and the same maturity T = 1 is CE,60 = 10. Now, suppose you want to write and sell a European call option written on the same stock with strike price K = 50 and the same maturity time T = 1, find the best upper and lower bounds for the initial price of your European call option. (Round your answer to the nearest tenths)

(Hint: Use the following inequalities: bounds on option prices, monotonicity on K, growth rate on K, convexity on K.)