Data: S0 = 120; X= 138; 1 + r= 1.15. The two possibilities for ST are 150 and 102. 1. The range of S is 48, while that of C is 12 across the two states. What is the hedge ratio of the call? (Round your answer to 2 decimal places.) Hedge ratio 2. Calculate the value of a call option on the stock with an exercise price of $138. (Do not use continuous compounding to calculate the present value of X in this example because we are using a two-state model here, not a continuous-time Black-Scholes model.) (Round your answer to 2 decimal places. Omit the "S" sign in your response.) Call value