AIFS. What if they choose to hedge $100\%$ of their base case scenario expenses $(25,000$ students$)$ with BOTH futures and options. Specifically, they decided to use $60\%$ futures and $40\%$ options.

Calculate and graph the positive or negative windfalls for stable dollar, weak dollar and strong dollar assuming:

a$.25,000$ student demand

b$.30,000$ student demand $($but $25,000$ were hedged for$)$

c$.10,000$ student demand $($but $25,000$ were hedged for$)$