The interest rate is 3% per year. The stock price of ACME is currently $100 and it pays no dividends. The stock price a year from now will be either $163 or $63. You sell your client a call option on ACME with a strike price of $113 and an expiration date 1 year from now. The number of shares of ACME purchased to hedge each call option (i.e. the hedge ratio) is

A. 0.25

B. 0.50

C. 0.83 D. 1.10