You are attempting to value a call option with an exercise price of $104 and one year to expiration. The underlying stock pays no dividends, its current price is $104, and you believe it has a 50% chance of increasing to $123 and a 50% chance of decreasing to $85. The risk-free rate of interest is 11%. 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.)