Mr. ABC is a trader in the oil market. In April 2023, he enters into a forward contract to sell oil at $80/ barrel for June 2023 for 10 barrels. Simultaneously, he also enters into a forward contract to buy 10 barrels of oil at $90 /barrel for June 2023. He does this to try and hedge (mitigate) his position (risk). Calculate his net payoff from both contracts under three scenarios: a) Spot price of oil in June 2023=$75/ barrel b) Spot price of oil in June 2023=$85/ barrel c) Spot price of oil in June 2023=$95/ barrel What do you think about his hedging strategy