test need asap! if longer than 2 hours don't bother. also will down vote if incorrect or recycled

As a financial analyst at Deutsche Bank, you are analyzing how futures will be used to reduce the risk for your client. It is March 31 . Your client knows that it will need to purchase 30,000 barrels of crude oil sometime in June.Your client decides to use July oil futures for hedging. The current July futures price is \\( \\$ 27 \\). One oil futures contract controls 1,000 barrels of oil. On June 11 , the spot oll price is \\( \\$ 28 \\) per barrel and the company decides to take oil position and July futures price is \\( \\$ 29 \\). It therefore closes out its futures contract on that date. a. Should the company take a long position or short position in Futures contracts for hedging purpose? position; or Short position) b. What will be the total cost of oil if the company use July oil futures for hedging? (sample answer: 255000) c. What will be the net cost of oll per barrel if the company use July oll futures for hedging? (sample answer: 25.50) Suppose that the company decides to use a hedge ratio of 0.6 , please answer the following questions: d. What will be the total cost of oil if the company use July oil futures for hedging? (sample answer, 255000) e. What will be the net cost of oll per barrel if the company use July oll futures for hedging? (sample answer: 25.50)