Q4. On January 1, farmer Jones agrees to sell forward to a grain elevator company an expected 10,000 bushel crop of soybeans for $5.75 per bushel. The delivery date is August 31. On February 1, the same farmer, now expecting higher soybean prices this summer, begins to regret the decision. Jones decides to buy forward a neighboring farm's expected 10,000 bushel crop of soybeans. The forward price for this new contract is $6.00 per bushel for August 31 delivery. What is the net payout at delivery of the combined short and long forward contracts? Q5. Suppose a futures contract on a stock index begins trading today. At 10 a.m., trader A goes long 5 contracts with trader B, who shorts 5 contracts, at a price of \$200. At 2 p.m., trader A shorts 2 contracts with trader C, who goes long 2 contracts, at a price of $210. The settlement price of the day, set by the clearing house, is $205. a. What is the volume of trades for the day? b. What is the open interest at the end of the day? c. What are the mark-to-market gains (losses) for each trader after settlement? Assume a multiplier (i.e., unit size) of 10