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On Monday, November 2, Apple stock was trading at $110 per share. The average annualized implied volatility of Apple over the last two months was

On Monday, November 2, Apple stock was trading at $110 per share. The average annualized implied volatility of Apple over the last two months was 0.42 (which should be used as your volatility input). Please find the value of a 6-month Apple call option with a $110 strike price using a 100-step binomial tree. Assume the current stock price is $110 per share and the risk-free rate is 2% per year.

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