c. Both put and call options can be traded on wheat futures. The current strike price of 3- month wheat is $204 for both options. The put option costs $5.10 per ton and the call option is $5.95 per ton. i. At the 3-month date, wheat is trading at $212.05. Which option would be exercised? Calculate the payoff and gain for the put option. What is the gain for the call option compared to the market price? (4 marks) ii. Calculate the payoff and gain for the put option and the gain/(loss) for the call option if the price of wheat at the 3-month date is $197.80. (2 marks) iii. At what prices would the two options be price neutral? (2 marks)