Need detailed answers for all parts. Need extra attention to part b, c, and d. Especially in determining Net Cost and Profit. No extra information is needed for solving the question.

1. Construct a bull spread with K1=57 and K2=68 a) Find the pay-off of this strategy if the stock is trading at 69 at expiry of the contract. b) Find the profit of this strategy at the same price. c) What is the max pay-off of this bull spread? d) What is the max profit of this bull spread? 1. Construct a bull spread with K1=57 and K2=68 a) Find the pay-off of this strategy if the stock is trading at 69 at expiry of the contract. b) Find the profit of this strategy at the same price. c) What is the max pay-off of this bull spread? d) What is the max profit of this bull spread