Future prices of a stock are modeled with a 1-period binomial tree based on forward prices, the period being 1 year. You are given

(i) The stock spot price is 30.

(ii) = 0.25

(iii)The stock pays no dividends.

(iv)The continuously compounded risk-free interest rate is 5%.

(v)For a European call option on the stock expiring in one year, the replicating portfolio has 0.9 shares of stock.

Determine the price of the call option.