ind the hedge ratio for a put option on 10,000 with a strike price of $15,000. The current exchange rate is $2.00/1.00 and in the next period the exchange rate can increase to $4.00/1.00 or decrease to $1.00/1.00 (i.e. u = 2 and d = 1/u = 0. 5). The current interest rates are i$ = 3%