Reconsider the determination of the hedge ratio in the two-state model where we showed that one-third share of stock would hedge one option. The possible end-of-year stock prices, uso = $85 (up state) and dso = $47 (down state). a. What would be the hedge ratio of a call option for each of the following exercise prices: $85, $68, $55, $47? (Round your answers to 3 decimal places. Leave no cells blank. Enter "O" wherever required) Hedge Ratio Exercise Price $85 $68 $55 $ 47