Item2\ 1\ points\ Time Remaining 2 hours 12 minutes 53 seconds02:12:53\ eBookPrintReferencesCheck my workCheck My Work button is now enabledItem 2\ Time Remaining 2 hours 12 minutes 53 seconds02:12:53\ Data: S0 = 106; X = 112; 1 + r = 1.12. The two possibilities for ST are 149 and 75.\ \ a. The range of S is 74 while that of P is 37 across the two states. What is the hedge ratio of the put? (Round your answer to 2 decimal places. Negative value should be indicated by parentheses.)\ \ \ \ b. Form a portfolio of one share of stock and two puts. What is the (nonrandom) payoff to this portfolio?\ \ \ \ c. What is the present value of the portfolio? (Round your answer to 2 decimal places.)\ \ \ \ d. Given that the stock currently is selling at 106, calculate the put value. (Do not round intermediate calculations. Round your answer to 2 decimal places.)