The Stars Group Inc. has 21 million shares of common stock outstanding and 2.7 million warrants. Each warrant entitles the holder the right to purchase one share of newly issued common stock for an exercise price of $25. The warrants will be exercisable for one year from today. The market capitalization of the company is $495 million, and the annual variance of the return on the firms assets is 0.2. The one-year Treasury bills yield a continuously compounded interest rate of 7%. The company chooses not to pay dividends. What is the value of a single warrant?