when owens corning emerged from bankruptcy in 2006, the debtholders became the sole owners of the company. but the old stockholders were not left entirely empty-handed. suppose they were given warrants to buy the new common stock at any point in the next seven years for $45.50 a share. because the stock in the restructured firm was worth about $30.25 a share, the stock needed to appreciate by 50% before the warrants would be worth exercising. the standard deviation of owens corning stock was 42% a year and the interest rate when the warrants were issued was 6%. owens corning did not pay a dividend. ignore the problem of dilution. calculate the call value of owens corning warrants. (do not round intermediate calculations. round your answer to 2 decimal places.)