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Please answer b only. Im not sure why 1.3 million is incorrect A gold-mining firm is concerned about short-term volatility in its revenues. Gold currently

Please answer b only. Im not sure why 1.3 million is incorrectimage text in transcribed

A gold-mining firm is concerned about short-term volatility in its revenues. Gold currently sells for $1,195 an ounce, but the price is extremely volatile and could fall as low as $1,115 or rise as high as $1,275 in the next month. The company will bring 1,000 ounces to the market next month. Note: Enter your answers in millions rounded to 2 decimal places. a. What will be total revenues if the firm remains unhedged for gold prices of $1,115,$1,195, and $1,275 an ounce? b. The futures price of gold for delivery one month ahead is $1,303. What will be the firm's total revenues at each gold price if the firm enters into a one-month futures contract to deliver 1,000 ounces of gold? c. What will be total net revenues if the firm buys a one-month put option to sell gold for $1,195 an ounce? The put option costs $117 per ounce. Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. The futures price of gold for delivery one month ahead is $1,303. What will be the firm's total revenues at each gold price if the firm enters into a one-month futures contract to deliver 1,000 ounces of gold

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