4) Several years ago, the Australian firm Bond Corporation sold some land that it owned near Rome for $110 million and as a result boosted its reported earnings for that year by $74 million. The next year it was revealed that the buyer was given a put option to sell the land back to Bond for $110 million and also that Bond had paid \$20 million for a call option to repurchase the land for the same price of \$110 million. a) What happens if the land is worth more than $110 million when the options expire? What if it is worth less than $110 million? b) Was it misleading to record a profit from selling the land? If so, use a position diagram to show what the transaction accomplished