Let the spot price of gold today be $1,500 per ounce. Jewelry maker Jewelrygold Inc. sets up a buying hedge by going long gold futures. The basis is $50 today and $5 on the day the company lifts the hedge by buying gold in the spot market and selling the futures. The companys effective buying price for gold is Group of answer choices

a. $1,505

b. $1,545

c. $1,550

d. $1,555