The current price of a stock is $22, and at the end of one year its price will be either $27 or $17. The annual risk-free rate is 6.1831%. A 1-year call option on the stock, with an exercise price of $22, is available. Based on the binomial model, what is the option's value?

Group of answer choices

$3.62

$2.70

$2.43

$2.99

$3.29