Check my work We will derive a two-state put option value in this problem. Data: So = 220; X = 230; 1 + r= 1.1. The two possibilities for Spare 250 and 150. points a. The range of Sis 100 while that of Pis 80 across the two states. What is the hedge ratio of the put? (Negative value should be indicated by a minus sign. Round your answer to 2 decimal places.) Skipped Hedge ratio eBook Print References b. Form a portfolio of 4 shares of stock and 5 puts. What is the (nonrandom) payoff to this portfolio? (Round your answer to 2 decimal places.) Nonrandom payoff points Skipped c. What is the present value of the portfolio? (Round your answer to 2 decimal places.) eBook Print Present value References d. Given that the stock currently is selling at 220, calculate the put value. (Round your answer to 2 decimal places.) Put value Check my work We will derive a two-state put option value in this problem. Data: So = 220; X = 230; 1 + r= 1.1. The two possibilities for Spare 250 and 150. points a. The range of Sis 100 while that of Pis 80 across the two states. What is the hedge ratio of the put? (Negative value should be indicated by a minus sign. Round your answer to 2 decimal places.) Skipped Hedge ratio eBook Print References b. Form a portfolio of 4 shares of stock and 5 puts. What is the (nonrandom) payoff to this portfolio? (Round your answer to 2 decimal places.) Nonrandom payoff points Skipped c. What is the present value of the portfolio? (Round your answer to 2 decimal places.) eBook Print Present value References d. Given that the stock currently is selling at 220, calculate the put value. (Round your answer to 2 decimal places.) Put value