Arctic Cat Dog Sleds is expecting sales of $2,001,313 next year. Given the data in the table, what will maintenance CAPEX be next year? Selected Financial Information Arctic Cat Dog Sleds Inc. Last Year Next Year Sales 2,001,313 Net PP&E 1,906,012 222,336 11.41% Depreciation Rate SCAPEX/Sales, gx 17.48% $35,722 $39,335 $28,632 $30,533 Tifany & Co. Jewelry Company sells 600 gold rings per day. Each ring uses about 0.2 of an ounce of gold. Over a year, Tifany uses 900,000 ounces of gold. Tilany buys all of its gold on one day. Tifany uses CME gold futures contracts to hedge the price risk of gold. The CME futures contract calls for the delivery of 100 ounces of gold. The contract is priced in dollars and cents per ounce. To hedge the price risk, should Tifany buy or sell gold futures and how many contracts should it trade? buy, 9,000 buy 90,000 sell, 9,000 sell, 90,000 You grow wheat on 1,250 acres near Normal, Illinois. It is late May. You just finished planting. Your typical yield is 40 bushels per acre, so you expect to harvest 50,000 bushels in the fall. You worry that the price of wheat might decline and you want to hedge your price risk. Wheat futures contracts trade on the CME. The wheat contract calls for the delivery of 5,000 bushels. To hedge the price risk, should you buy or sell December wheat futures? How many contracts should you trade? buy. 11 o sell, 10 buy, 10 sell, 11 You are long a put option with an exercise price of $100. The option expires today and the underlying security is trading at $94. If you purchased the option for $4, should you exercise the option? yes C no