Now in September, Laura will sell $10,000 bushels of corn in December. In September, the December corn futures are selling for $6 per bushel. To hedge her corn price risk, she sells 30,000 bushels of December corn futures. Which of the following is correct if the corn price goes down to $5.50 per bushel in December?

1. Lauras payoff in the futures market in December is -$5,000

2. Lauras total payoff from both the spot market and futures market in December depends on spot price

3. Lauras payoff in the spot market in December is -$55,000

4. Lauras total payoff from both the spot market and futures market in December is $60,000