You are attempting to value a call option with an exercise price of $108 and 1 year to expiration. The underlying stock pays no dividends,

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You are attempting to value a call option with an exercise price of $108 and 1 year to expiration. The underlying stock pays no dividends, its current price is $108, and you believe it has a 50% chance of increasing to $123 and a 50% chance of decreasing to $93. The risk-free rate of interest is 10%. Calculate the call option's value using the two-state stock price model. (Do not round intermediate calculations and round your final answer to 2 decimal places. Omit the "$" sign in your response.) Call option's value $ D

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