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In its 1 0 - Q dated February 4 , 2 0 1 0 , LLL , Inc., had outstanding employee stock options representing over

In its 10-Q dated February 4,2010, LLL, Inc., had outstanding employee stock options representing over 286 million shares of its stock. LLL accountants estimated the value of these options using the Black-Scholes-Merton formula and the following assumptions:
S = current stock price = $27.39
K = option strike price = $29.82
r = risk-free interest rate =0.043
\sigma = stock volatility =0.27
T = time to expiration =3.5 years
What was the estimated value of these employee stock options per share of stock? (Note: LLL pays no dividends.)(Round your answer to 2 decimal places. Omit the "$" sign in your response.)
Employee stock options $

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