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A call option with X = $58 on a stock currently priced at S = $62 is selling for $8. Using a volatility estimate of

A call option with X = $58 on a stock currently priced at S = $62 is selling for $8. Using a volatility estimate of = 0.36, you find that N(d1) = 0.7187 and N(d2) = 0.6550. The risk-free interest rate is zero. Is the implied volatility based on the option price more or less than 0.36?

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