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You are attempting to value a call option with an exercise price of $101 and one year to expiration. The underlying stock pays no dividends,

You are attempting to value a call option with an exercise price of $101 and one year to expiration. The underlying stock pays no dividends, its current price is $101, and you believe it has a 50% chance of increasing to $133 and a 50% chance of decreasing to $69. 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.)

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