A portfolio consists of cash and 5 risky assets, namely MTN Group (MTN), Nedbank Group (NED), Impala Platinum (IMP), Discovery (DSY) and Woolworths (WHL) stocks. Initial investment of R10 million is available on the 1st of May 2023; 70% of it can be used to buy the stocks and 5% can be retained in cash and the rest can be used for hedging the portfolio using 4-month European Put Options that will expire on the 31st of August 2023. The value process of portfolio h is given by