One share of Mac Inc. is currently trading at $49 per share. In one year, the price is expected either (1) rise to $65 or (2) fall to $40. You are interested in purchasing a call option on Mac, Inc. The option has a strike price of $57 and expires in 1 year. The current risk-free rate for the year is 3%. Based on binomial options pricing (as shown in class), what is a fair price for this option? Answer to the nearest cent, with no punctuation. That is $5.289 should be entered at 5.29. 1