You own a one-year European call option to buy one acre of Los Angeles real estate. The exercise price is $2.15 million. Suppose the land is occupied by a warehouse generating rents of $225,000 after real estate taxes and all other out-of-pocket costs. The present value of the land plus the warehouse is $1.85 million. The annual standard deviation is 18% and the interest rate is 12%. How much is your call worth? (Enter your answer in dollars not in millions. Do not round intermediate calculations.)