You own a one$-$year call option to buy one acre of Los Angeles real estate. The exercise price is $$2\mathrm{.}08$ million, and the current, appraised market value of the land is $$1\mathrm{.}78$ million. The land is currently used as a parking lot, generating just enough money to cover real estate taxes. The annual standard deviation is $17\%,$ and the interest rate is $11\%.$

How much is your call worth? Use the Black$$Scholes formula.