derivatives securities, please provide correct answer. correct answer, plz.

Consider two European call options on the stock of XYZ. Both options mature one year from now. The first option (Option #1) has a strike price of $40.0 and trades at $19.8 today; the second option (Option #2) has a strike price of $55.0. Currently, the stock price is equal to $55.4, and the one-year continuously-compounded risk-free rate is 3%. The stock does not pay dividends. Note that you will get partial credits for the problem and hints under the submission box. We've increased the number of attempts to 15, so don't give up! What is the lowest price of the second option (Option #2) consistent with absence of arbitrage? 4.80 $ X The answer is incorrect. Review Module 5 of the lecture, which derives bounds on option prices. Overall, you need to think about various portfolios combining Option #2, the stock, and a discount bond that provide at least as high payoff at expiration as Option #1. The price of these porfolios should be higher than the price of Option #1, which would give you the lower bound on the price of Option #2. Please round your answers to at least two digits