You observe a premium of $48.00 for a call option on birdwell enterprises common stock, which is currently selling for $48. the strike price on the call option is $50. the option has four months to maturity. the stock pays no dividends. the current risk-free interest rate is 4.00%. what is the implied volatility of the stock? (round your answer to the nearest whole percent.)

Precision dyes is analyzing two machines to determine which one it should purchase. the company requires a rate of return of 15 percent and uses straight-line depreciation to a zero book value over the life of its equipment. ignore bonus depreciation. machine a has a cost of $462,000, annual aftertax cash outflows of $46,200, and a four-year life. machine b costs $898,000, has annual aftertax cash outflows of $16,500, and has a seven-year life. whichever machine is purchased will be replaced at the end of its useful life. which machine should the company purchase and how much less is that machine's eac as compared to the other machine's