Take an option pricing model and stick in the values you mentioned and then solve for volatility! Do you really expect me or anyone else here to do a basic calculation for you!? Your question can easily be answered by reading a book on options. Also, as suggested by others, read thru some threads. This has been discussed numerous times here.
Of course it would be business as usual. I didn't make any reference to the absolute number as being high or low, just that, taken at face value, it is more useful than the premium amount. And, yes, it is useful to compare current IV to previous levels of implied and historical volatility.