Answer
The highest point is 1.925 meters above the ground.
Work Step by Step
We can use conservation of energy to find the highest point (where we can assume that the kinetic energy is zero):
$U_2+KE_2 = U_1+KE_1$
$mgh_2+0 = mgh_1+\frac{1}{2}mv_1^2$
$h_2 = h_1+\frac{v_1^2}{2g}$
$h_2 = (0.70~m)+\frac{(4.9~m/s)^2}{(2)(9.80~m/s^2)}$
$h_2 = 1.925~m$
The highest point is 1.925 meters above the ground.
