Suppose today is the 14 of September 2020. The January 21 2022, the call option on Kimberly-Clark Corporation common stock is priced at $16.50. The exercise price of the call option is $150.00. The expiry date of the option is January 21 2022. The 14 of September 2020 price of Kimberly-Clark Corporation common stock is $148.50. The risk-free rate is 1.70%.

Using Excel, you are required to derive the implied volatility (sigma) of the underlying asset from the current market price of the January 21 , 2022 call option on Kimberly-Clark Corporation common stock.

Assume a 15% starting value for s to set up a theoretical model of the price of the call option. Assume the stock does not pay a dividend before the expiry date. Comment on the results.