2. Basis Suppose that Delta Air Lines Inc will buy 60,000 lb oil in December 2006 and now the company buys a February 2007 oil futures (contract size 60,000 lb) to hedge. Now the oil futures price is 84.90 cents/lb. Suppose that Marathon Oil Corp will sell 60,000 lb oil in December 2006 and now the company sells a February 2007 oil futures (contract size 60,000 lb) to hedge. Now the oil futures price is 84.90 cents/lb. A. (6 points) What is the effective price paid by the Delta Air Lines Inc for the oil? (use notation for the answer, if needed) B. (6 points) Will Delta Air Lines Inc benefit for a smaller basis in December 2006? C. (6 points) What is the effective price received by the Marathon Oil Corp for the oil? (use notation for the answer, if needed) D. (6 points) Will Marathon Oil Corp benefit for a smaller basis in December 2006