Given: A stocks price is 38, a 3-month call with an exercise price of 40 has a market price of $1.01. Using a stock return standard deviation of 24%/yr, the Black-Scholes model price for the call is $1.20. The implied volatility calculated from this options price will be? A. higher than 24% B. equal to 24% C. lower than 24% D. equal to the risk-free rate