The price of Ervin Corp. stock will either be $69 or $85 at the end of the year. Call options are available with one year until expiration. Continuously compounded T-bills currently yield 2.57 %. Suppose the current price of Ervin stock is $73.

What is the value of the call option if the strike price is $75 per share? (Round answer to 2 decimal places. Do not round intermediate calculations).