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You observe a premium of $3.96 for a call option on Birdwell Enterprises common stock, which is currently selling for $40. The strike price on

You observe a premium of $3.96 for a call option on Birdwell Enterprises common stock, which is currently selling for $40. The strike price on the call option is $38. The option has four months to maturity. The stock pays no dividends. The current risk-free interest rate is 2.00%. What is the implied volatility of the stock? (Round your answer to the nearest whole percent.) Implied volatility %

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