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Use the Black-Scholes model to find the price for a call option with the following inputs: (1) current stock price is $31, (2) strike price

Use the Black-Scholes model to find the price for a call option with the following inputs: (1) current stock price is $31, (2) strike price is $35, (3) time to expiration is 8 months, (4) annualized risk-free rate is 6%, and (5) variance of stock return is 0.36. Do not round intermediate calculations. Round your answer to the nearest cent.

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