The interest rate is 5% per year. The stock price of ILG is currently $125 and it pays no dividends. The stock price a year from now will either be $175 or $88. You sell your client a call option on ILG with a strike price of $150 and an expiration date 1 year from now. The number of shares of ILG purchased to hedge each call option (i.e. the hedge ratio) is ________?

		0.22
		0.29
		0.36
		1.20
		None of the above