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Input Area:
Current stock price 53$
Exercise price 65$
Expiration (months) 6
Risk-free rate 4%
Standard deviation 63.22%
Output Area:
d1(0.1883)
Chapter 22
Clissold Industries Options
Microsoft Excel 14.0 Answer Report
Worksheet: [Corporate Finance 11th edition Case Solutions.xlsx]Chapter 22
Report Created: 1/3/2015 3:44:01 PM
Result: Solver found a solution. All Constraints and optimality conditions are satisfied.
Solver Engine
Engine: GRG Nonlinear
Solution Time: 0.047 Seconds.
Iterations: 1 Subproblems: 0
Solver Options
Max Time 100 sec, Iterations 100, Precision 0.000001
Convergence 0.0001, Population Size 100, Random Seed 0, Derivatives Forward, Require Bounds
Max Subproblems Unlimited, Max Integer Sols Unlimited, Integer Tolerance 5%, Solve Without Integer Constraints
Objective Cell (Value Of)
Cell Name Original Value Final Value
Microsoft Excel 14.0 Answer Report
Worksheet: [Corporate Finance 11th edition Case Solutions.xlsx]Chapter 22
Report Created: 1/3/2015 3:44:59 PM
Result: Solver found a solution. All Constraints and optimality conditions are satisfied.
Solver Engine
Engine: GRG Nonlinear
Solution Time: 0 Seconds.
Iterations: 1 Subproblems: 0
Solver Options
Max Time 100 sec, Iterations 100, Precision 0.000001
Convergence 0.0001, Population Size 100, Random Seed 0, Derivatives Forward, Require Bounds
Max Subproblems Unlimited, Max Integer Sols Unlimited, Integer Tolerance 5%, Solve Without Integer Constraints
Microsoft Excel 14.0 Answer Report
Worksheet: [Corporate Finance 11th edition Case Solutions.xlsx]Chapter 22
Report Created: 1/3/2015 3:45:34 PM
Result: Solver found a solution. All Constraints and optimality conditions are satisfied.
Solver Engine
Engine: GRG Nonlinear
Solution Time: 0.032 Seconds.
Iterations: 1 Subproblems: 0
Solver Options
Max Time 100 sec, Iterations 100, Precision 0.000001
Convergence 0.0001, Population Size 100, Random Seed 0, Derivatives Forward, Require Bounds
Max Subproblems Unlimited, Max Integer Sols Unlimited, Integer Tolerance 5%, Solve Without Integer Constraints
Microsoft Excel 14.0 Answer Report
Worksheet: [Corporate Finance 11th edition Case Solutions.xlsx]Chapter 22
Report Created: 1/3/2015 3:46:18 PM
Result: Solver found a solution. All Constraints and optimality conditions are satisfied.
Solver Engine
Engine: GRG Nonlinear
Solution Time: 0.016 Seconds.
Iterations: 1 Subproblems: 0
Solver Options
Max Time 100 sec, Iterations 100, Precision 0.000001
Convergence 0.0001, Population Size 100, Random Seed 0, Derivatives Forward, Require Bounds
Max Subproblems Unlimited, Max Integer Sols Unlimited, Integer Tolerance 5%, Solve Without Integer Constraints
Objective Cell (Value Of)
