3. Hedging using futures X Suppose a farmer is expecting that her crop of oranges will be ready for 0/1 oint harvest and sale as 150, 000 pounds of orange juice in 3 months time. Suppose each orange juice futures contract is for 15, 000 pounds of orange juice, and the current futures price is Fo 118.65 cents-p Assuming that the farmer has enough cash liquidity to fund any margin calls, what is the risk-free price that she can guarantee herself. Please submit your answer in cents-per-pound rounded to two decimal places. example, if your answer is 123.456, then you should submit an answer of 123. 124.8 Incorrect Deche 5. Call Options Consider a 1-period binomial model with R 1.02, So 100, 0/1 point u 1/d 1.05. Compute the value of a European call option on the stock with strike K 102. The stock does not pay dividends. Please submit your answer rounded to two decimal places. So for example, if your answer is 3.4567 then you should submit an answer of 3.46. 1.76 Incorrect Response 6. Call Options II When you construct the replicating portfolio for the option in the previous question how many dollars do you need to invest in the cash account? 0/1 point Please submit your answer rounded to three decimal places. So for example, if your answer is-43.4567 then you should submit an answer of-43.457. -34.171 *