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Consider a European call option with strike price 100, underlying price of 98, time to expiration of 3 months, and risk free rate of 5%

Consider a European call option with strike price 100, underlying price of 98, time to expiration of 3 months, and risk free rate of 5% (compounded continuously).The stock does not pay a dividend.If the call premium is $5.51, what is the implied volatility?(Hint:Use excel to calculate the Black-Scholes formula and then adjust the volatility to find the implied volatility.)

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