On April 10,2022 , we observe that sugar's spot price was $23, and its August futures price was $25. On July 1,2022 , the spot price is $54; and the August futures price is $51.50. A sugar production company entered futures contracts on April 10, 2022, to hedge its sugar selling transaction on July 1,2022 . It closed out its position on July 1,2022 . Which of the following statement(s) is/are MOST accurate? i. The effective price (after taking account of hedging) received by the company is $20.5. ii. The company entered a long hedge. iii. The effective price (after taking account of hedging) paid by the company is $51.50. iv. The company has loss on its futures position. iand iv ii and iii iv i and