(10 points) Assume a fund owns 11,200 shares of BA stock that is currently selling for$183. A European call option on BA with a strike price of $175 is selling at $28 and has adelta of 0.64. (1) Calculate the number of European call options necessary to create a delta-neutral hedge. (2) If the price of the underlying stock has moved to $182, and consequently, the delta ofthe call option with a strike price of $175 has decreased from 0.64 to 0.625. Howwould the investor's portfolio of stock and options must be adjusted to maintain thedelta-neutral position?(3) What would be the change in the value of the previously delta-neutral portfolio if noaction was taken after the price of stock changed from $183 to $182?