You own a lot in Montreal that is currently unused. Similar lots have recently sold for $$1\mathrm{.}9$ million. Over the past five years, the price of

land in the area has increased $12$ percent per year, with an annual standard deviation of $30$ percent. A buyer has recently approached

you and wants an option to buy the land in the next $12$ months for $$2\mathrm{.}1$ million. The risk$-$free rate of interest is $6$ percent per year,

compounded continuously. How much should you charge for the option? $($Do not round intermediate calculations. Enter the answer

in dollars. Round the answer to $2$ decimal places. Omit $ sign in your response.$)$

Call Price

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