Data: So = $100; X = $110; 1 + r= 1.1. The two possibilities for sy are $130 and $30. a. The range of Sis $100, while that of C is $20 across the two states. What is the hedge ratio of the call? (Round your answer to 2 decimal places.) Hedge ratio b. Calculate the value of a call option on the stock with an exercise price of $110. (Do not use continuous compounding to calculate the present value of X in this example because we are using a two-state model here, not a continuous-time Black-Scholes model.) (Do not round intermediate calculations. Round your answer to 2 decimal places. Omit the "$" sign in your response.) Call value $0