Suppоse yоu аre the CFO оf аn oil refiner аnd you wish to hedge your future purchase price risk of crude oil using options. Your company will need to purchase a total of 11.3 million barrels of oil in next four months. The six-month crude oil futures contract is trading at $27/bbl. The price of the four-month 26 put is $1.95/bbl. The price of the four-month 31 call is $1.72/bbl. Instead of buying futures contracts at $27 to hedge your risk, you decide that you will purchase the 31 call options to hedge your price risk. Futures and option contracts on crude oil represent 1,000 bbl./contract. a) How many contracts do you need to purchase? (Round answer to zero decimals. Do not round intermediate calculations) [a] b) What is your total cash outlay? (Round answer to zero decimal places. Do not round intermediate calculations) [b] c) What is your breakeven point in terms of the oil settlement price? (Round answer to 2 decimal places. Do not round intermediate calculations) [c] d) What is your maximum loss (in $/bbl)? (Round answer to 2 decimal places. Do not round intermediate calculations) [d] e) What is your maximum gain (in $/bbl)? (Round answer to 2 decimal places. Do not round intermediate calculations) [e] f) If the price of oil settles at $35 in four months, what is your net purchase price (in $/bbl)? (Round answer to 2 decimal places. Do not round intermediate calculations) [f] g.) If the price of oil settles at $23 in four months, what is your net purchase price (in $/bbl)? (Round answer to 2 decimal places. Do not round intermediate calculations) [g]