Future prices of a stock are modeled with a 12-period binomial tree, each period being one month. You are given: (1) The tree is constructed based on forward prices. (ii) The stock's initial price is 50. (iii) The continuously compounded risk-free interest rate is 4%. (iv) The stock pays no dividends. (v) 0 =0.1 An American call option on the stock expiring in one year has strike price 70. Calculate the price of the call option