A commodity producer sells its production in the spot market. To hedge, it enters a swap contract on 25,000 units of the commodity, which is 25% of the expected next year's production. The data is as follows: commodity spot price $80 today, and the swap is quoted $75 bid, $79 ask. Suppose that next year, commodity spot price increases to $90. What is the producer's total revenue (including the spot sale and the swap position) next year? a. (90-80)*100,000+ (79-80) * 25,000 b. 80*75,000 +75*25,000 c. 90*100,000+ (75-90)*25,000 d. 90*75,000 + (75-80)*25,000