3 (2 points) There are three kinds of treasury bonds in the Treasury bond market. The quoted prices of the futures contracts are between us $93-24. The quotations and conversion factors of the three kinds of treasury bonds are as follows: Quoted price (USD) conversion factor Treasury A 130.50 1.600 Treasury B 125.00 1.550 Treasury C 120.50 1.450 (1) Briefly describes the definition of delivery gap and its formula. (2) How to choose the right short delivery party? (3) Write the cash income calculation formula of unit futures contract (contract size of $100000) delivered by short party (4) For the delivery bond selected in (3), if the accumulated interest is $3, calculated the actual cash income received by the short party (5) If the short party delivery the futures by standardized treasury bond, calculated the actual cash income received by the short party. 3 (2 points) There are three kinds of treasury bonds in the Treasury bond market. The quoted prices of the futures contracts are between us $93-24. The quotations and conversion factors of the three kinds of treasury bonds are as follows: Quoted price (USD) conversion factor Treasury A 130.50 1.600 Treasury B 125.00 1.550 Treasury C 120.50 1.450 (1) Briefly describes the definition of delivery gap and its formula. (2) How to choose the right short delivery party? (3) Write the cash income calculation formula of unit futures contract (contract size of $100000) delivered by short party (4) For the delivery bond selected in (3), if the accumulated interest is $3, calculated the actual cash income received by the short party (5) If the short party delivery the futures by standardized treasury bond, calculated the actual cash income received by the short party