The current price of a stock is $$18.$ In $1$ year, the price will be either $$28$ or $$15.$ The annual risk$-$free rate is $3\%.$ The data has been collected in the Microsoft Excel Online file below. Open the spreadsheet and

perform the required analysis to answer the question below.

Open spreadsheet

Find the price of a call option on the stock that has a strike price is of $$23$ and that expires in $1$ year. $($Hint: Use daily compounding.$)$ Assume $365-$day year. Do not round intermediate calculations. Round your

answer to the nearest cent.

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