1.You are attempting to value a put option with an exercise price of $108 and one year to expiration. The underlying stock pays no dividends, its current price is $108, and you believe it has a 50% chance of increasing to $133 and a 50% chance of decreasing to $83. The risk-free rate of interest is 5%. Calculate the value of a put option with exercise price $108. (Do not round intermediate calculations. Round your answer to 2 decimal places.) I got 11.89 but it was wrong

Value of put option=

2. Data: S₀ = 120; X = 126; 1 + r = 1.05. The two possibilities for S_T are 150 and 102. a-1. The range of S is 48 while that of C is 24 across the two states. What is the hedge ratio of the call? (Round your answer to 2 decimal places.)

a-2. Calculate the value of a call option on the stock with an exercise price of 126. (Do not use continuous compounding to calculate the present value of X in this example because we are using a two-state model here; the assumed 5% interest rate is an effective rate per period.) (Do not round intermediate calculations. Round your answer to 2 decimal places.)