You have been given the following information on Claiborne Industries:

Current stock price = $33

Options exercise price = $33

Time until expiration of option = 3 months, or 0.25 of a year

Risk-free rate = 5.5%

Variance of stock price = 0.09

d1 = 0.16711

d2 = 0.02061

N(d1) = 0.56636

N9d2) = 0.80822

Using the Black-Scholes Option Pricing Model, what would be the options value? Round intermediate calculations to 6 decimal places. Round your answer to two decimal places.

CALL OPTION