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A non-dividend paying stock priced at 50 can go up or down by 10 percent each period over two total periods. The risk-free rate is

A non-dividend paying stock priced at 50 can go up or down by 10 percent each period over two total periods. The risk-free rate is 4 percent per period. If the strike price of the call is 48, how many shares of the underlying stock should be held in order to hedge a short position in the call. (i.e. calculate h)

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