The current price of CG Industries stock is $50. In the next year, the stock price will either go up by 10% or go down by 8%. CG pays no dividends. The one-year risk-free rate is 5% and will remain constant. Assuming the Beta on CG stock is 0.75, the calculated beta for a one-year call option on CG stock with a strike price of $40 is closest to: 10.75 12.75 15.75 16.75