In its 10-Q dated February 4, 2010, LLL, Inc., had outstanding employee stock options representing over 278 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 = $28.2 K = option strike price = $30.63 r = risk-free interest rate = 0.032 = stock volatility = 0.24 T = time to expiration = 3.5 years What was the estimated value of these employee stock options per share of stock? (Note: LLL pays no dividends.) (Round your answer to 2 decimal places. Omit the "$" sign in your response.) Employee stock options