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XYZs stock price is $10/share. In one year, the price will either rise to $14 (50% probability) or fall to $9. XYZ will not pay

XYZs stock price is $10/share. In one year, the price will either rise to $14 (50% probability) or fall to $9. XYZ will not pay any dividends. The riskless interest rate is 20% (i.e., if you borrow $100, you need to repay $120 in one year). Using a one-step binomial tree, what is the current value of a one-year European call option on XYZ with an exercise price of $12?

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