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You observe a premium of $5.38 for a call option on Birdwell Enterprises common stock, which is currently selling for $38. The strike price on

You observe a premium of $5.38 for a call option on Birdwell Enterprises common stock, which is currently selling for $38. The strike price on the call option is $35. The option has four months to maturity. The stock pays no dividends. The current risk-free interest rate is 4.50%. What is the implied volatility of the stock?

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