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You are using a two - step binomial tree to estimate the price of a call option on MCD . The strike price of the

You are using a two-step binomial tree to estimate the price of a call option on MCD. The strike price of the call option is $22. The price of MCD today is $32. The risk-free rate is 5%. What is the price of the call? Round your solution to the nearest three decimals if needed (i.e.2.312). Please do not type the $ symbol.
u=2
d=0.7
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