Problem 16-06 Suppose the current value of a popular stock index is 652.00 and the dividend yield on the index is 2.7%. Also, the yield curve is flat at a continuously compounded rate of 5.0%. a. If you estimate the volatility factor for the index to be 19%, use the Black-Scholes model to calculate the value of an index call option with an exercise price of 667 and an expiration date in exactly three months. You may use Appendix D to answer the question. Do not round intermediate calculations. Round your answer to the nearest cent. b. If the actual market price of this option is $20.90, calculate the implied volatility coefficient. Do not round intermediate calculations. Round your answer to two decimal places. %