The current price of Estelle Corporation stock is $ 23.00. In each of the next two years, this stock price will either go up by 16 % or go down by 16 %. The stock pays no dividends. The one-year risk-free interest rate is 8.0 % and will remain constant. Using the Binomial Model, calculate the price of a one-year call option on Estelle stock with a strike price of $ 23.00.

The price of the one-year call option is $____ (Round to to the nearest cent.)