We will derive a two-state put option value in this problem. Data: S - 290; X - 300;1+re 11. The two possibilities for Sy are 330 and 180 a. The range of Sis 150 while that of Pis 120 across the two states. What is the hedge ratio of the put? (Negative value should be indicated by a minus sign. Round your answer to 2 decimal places.) Hedge ratio b. Forma portfolio of 4 shares of stock and 5 puts. What is the (nonrandom) payoff to this portfolio? (Round your answer to 2 decimal places.) Nonrandom payon c. What is the present value of the portfolio? (Round your answer to 2 decimal places.) Dent c. What is the present value of the portfolio? (Round your answer to 2 decimal places.) Present value d. Given that the stock currently is selling at 290, calculate the put value. (Round your answer to 2 decimal places.) Put value