A stock price is currently $40 and the risk-free interest rate is 5%.Use Solver (or other approach) to translate the following table of European call options on the stock into a table of implied volatilities (assume that the stock pays no dividends). Include your table of implied volatilities in your answer. Are the reported option prices consistent with the assumptions underlying the BlackScholesMerton model? Describe any patterns found in your volatilities and provide potential explanations.

Strike Price	Call Value	Call Value	Call Value
35	6.02	7.13	8.99
40	2.63	3.96	6.00
45	0.83	1.93	3.82