A construction firm requires a regular supply of steel for its building operations and its treasurer is concerned about recent volatility of steel prices. Steel currently sells for $815 a tonne, but market analysts have forecast that the price could be $750, $825, or $910 in the next month. The company intends to purchase 1,000 tonnes of steel next month. a. What will be the total cost to the firm if it remains unhedged, for steel prices of $750,$825, or $910 a tonne? b. The current futures price of steel for delivery one month ahead is $840 a tonne. What will be the firm's total cost at each of the possible three steel prices in the next month if the firm enters into a one-month futures contract to acquire 1,000 tonnes of steel? c. What would be the net cost if instead, the firm buys a one-month call option to purchase steel for $830 a tonne? The call option costs $32 per tonne. Answer questions 4(a) to (c) by filling out the table below. No intermediate steps or explanations are required. A construction firm requires a regular supply of steel for its building operations and its treasurer is concerned about recent volatility of steel prices. Steel currently sells for $815 a tonne, but market analysts have forecast that the price could be $750, $825, or $910 in the next month. The company intends to purchase 1,000 tonnes of steel next month. a. What will be the total cost to the firm if it remains unhedged, for steel prices of $750,$825, or $910 a tonne? b. The current futures price of steel for delivery one month ahead is $840 a tonne. What will be the firm's total cost at each of the possible three steel prices in the next month if the firm enters into a one-month futures contract to acquire 1,000 tonnes of steel? c. What would be the net cost if instead, the firm buys a one-month call option to purchase steel for $830 a tonne? The call option costs $32 per tonne. Answer questions 4(a) to (c) by filling out the table below. No intermediate steps or explanations are required