A gold-mining firm is concerned about short-term volatility in its revenues. Gold currently sells for $1,210 an ounce, but the price is extremely volatile and could fall as low as $1,130 or rise as high as $1,290 in the next month. The company will bring 1,000 ounces to the market next month. (Enter your answers in millions rounded to 2 decimal places.)

a. What will be total revenues if the firm remains unhedged for gold prices of $1,130, $1,210, and $1,290 an ounce?

b. The futures price of gold for delivery one month ahead is $1,304. What will be the firm's total revenues at each gold price if the firm enters into a one-month futures contract to deliver 1,000 ounces of gold?

c. What will total revenues be if the firm buys a one-month put option to sell gold for $1,210 an ounce? The put option costs $116 per ounce.