3. Amber McClain, the currency speculator we met earlier in the chapter, now sells eight June futures contracts for 500,000 pesos at the closing price of $0.10773/Ps. (2 point) a. What is the profit of her position at maturity if the ending spot rate is $0.12500/Ps? b. What is the profit of her position at maturity if the ending spot rate is $0.09850/Ps? c. What is the profit of her position ai maturity if the ending spot rate is $0.11500/Ps? 4. Michael Polin, a currency trader for a New York investment firm, uses the following British pound futures to speculate on the value of the British pound. Contract size is 62,500 per contract. (2 point) a. If Michael buys FIVE June pound futures at $1.4162/, and the spot rate at maturity is $1.3980/, what is the total profit of his position? b. If Michael sells TWELVE June pound futures at $1.4162/, and the spot rate at maturity is $1.3980/E, what is the profit of his position? c. If Michael buys 3 March pound futures at $1.4228/E, and the spot rate at maturity is $1.4560/E, what is the profit of his position