In its 10Q dated February 4, 2016, LLL, Inc, had outstanding employee stock options representing over 290 millionshares of its stock LLL accountants estimated the value of these options using the Black-Scholes-Merton formula and the following assumptions: \\[ \\begin{array}{l} S=\\text { current stock price }=\\$ 27.27 \\\\ K=\\text { option strike price }=\\$ 29.70 \\\\ r=\\text { risk-free interest } \\text { rate }=.052 \\\\ \\sigma=\\text { stock volatility }=.23 \\\\ T=\\text { time to expiration }=3.5 \\text { years } \\end{array} \\] What was the estimated value of these employee stock options per share of stock? (Note: LLL pays no cividenda) (Do not round intermediate calculations. Round your answer to 2 decimal places.)