1. (10 points) You are setting up a intermarket futures spread where you feel the price of Brent Crude will outperform the light sweet crude oil on the NYM. Both contracts are for 1000 barrels and currently Brent is priced $6.19 more than the Dec. 2022 settle price for light sweet crude which was at 90.46. Using 1 contract of each, if the price of Brent rises by 10% while the price of light sweet crude rises by 6%, what is your overall profit/loss on the position if you paid a round trip commission charge of $80 per contract