Figure 1: Asymmetric butterfly payoff function Part A Show that the asymmetric butterfly call spread, with payoff function depicted in Figure 1, is obtained with the following portfolio: (1) Long bK1-calls (2) Short (a+b)K2-calls (3) Long aK3-calls a,b,K1,K2,K3 are positive constants. You should construct an algebraic expression for the payoff function in each of the intervals: STK3 Where ST denotes the price of the underlying asset at time T= option expiration. Part B Construct a portfolio of put contracts which has the same payoff function as in Figure 1. Demonstrate that the payoff function of your portfolio is correct