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Today's price of Intercontinental Hotels Group (IHG) is $35. IHG does not pay dividends. Each year, the stock price of IHG can either go up

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Today's price of Intercontinental Hotels Group (IHG) is $35. IHG does not pay dividends. Each year, the stock price of IHG can either go up or down. If the stock price goes up, the gross rate of return is u = 2. If the stock price goes down, the gross rate of return is d = 0.5. The c.c. risk-free interest rate is zero percent. You are interested in a European call option on IHG with a strike of $30 and a maturity of two years. Assume there is no arbitrage. What is the price of the call option

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