Consider the payoff at maturity of the following structured product where S$($T$)$ is the price of the underlying at maturity:

$0$ if S$($T$)<$ $$1,550$

$20[$S$($T$)1,550]$ if $$1,550<$ S$($T$)$

$$1,600$

$1,000$ if $$1,600<$ S$($T$).$

This derivative can be written as a combination of:

$(1)$ a long zero coupon bond with face value $$2,000,(2)$ long $20$ European puts with strike price $$1,600$ and $(3)$ short $20$ European puts with strike price $$1,550$

$(1)$ a long zero coupon bond with face value $$2,500,(2)$ short $20$ European puts with strike price $$1,600$ and $(3)$ long $20$ European puts with strike price $$1,550$

$(1)$ a long zero coupon bond with face value $$1,000,(2)$ long $20$ European calls with strike price of $$1,550$ and $(3)$ short $20$ European calls with strike price $$1,600$

$(1)$ a long zero coupon bond with face value $$1,500,(2)$ long $20$ European calls with strike price of $$1,550$ and $(3)$ short $20$ European calls with strike price $$1,600$

None of these answers are correct.