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A currency is worth $12,000 in the up state of the world and $8,000 in the down state of the world. A call option on

A currency is worth $12,000 in the up state of the world and $8,000 in the down state of the

world. A call option on the currency has payoffs of $3,000 in the up state and $0 in the down

state. What is the call options hedge ratio?

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