I need the answer for question D only thank you Data: S. 108; X = 118;1+ r= 1.1. The two possibilities for Sare 156 and 80. a. The range of Sis 76 while that of Pis 38 across the two states. What is the hedge ratio of the put? (Round your answ decimal places. Negative value should be indicated by a minus sign.) Hedge ratio b. Form a portfolio of one share of stock and two puts. What is the (nonrandom) payoff to this portfolio? Nonrandom payoff c. What is the present value of the portfolio? (Round your answer to 2 decimal places.) Present value d. Given that the stock currently is selling at 108, calculate the put value. (Do not round intermediate calculations. Rou answer to 2 decimal places.) Put value