value: 10.00 points Data. So = 109; X-115; 1 + r= 1.08. The two possibilities for ST are 135 and 85 a. The range of S is 50 while that of P is 30 across the two states. What is the hedge ratio of the put? (Round your answer to 2 decimal places. Negative amount should be indicated by a minus sign.) Hedge ratio b-1. Form a portfolio of three shares of stock and five puts. What is the (nonrandom) payoff to this portfolio? (Omit the "$" sign in your response.) Nonrandom payoff b-2. What is the present value of the portfolio? (Round your answer to 2 decimal places. Omit the "$ sign in your response.) Present value Given that the stock currently is selling at $109, calculate the put value. (Round your answer to 2 decimal places. Omit the "$" sign in your response.) c. Put value