The current price of a stock is $21. In 1 year, the price will be either $27 or $16. The annual risk-free rate is 4%. 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.) Round your answer to the nearest cent. Assume 365-day year. Do not round your intermediate calculations.