Oscar Enterprises stock currently trades for $60/share, but you believe the stock could increase by 20% or decrease by 10% over the next three months. 3-month American put options are available on the stock with an exercise price of $65. The annual risk free rate is 8%. Use the binomial option pricing model to find the present value of the put option. Round intermediate steps to four decimals and your final answer to two decimals. Do not use currency symbols or words when entering your response.

Find the hedge ratio.