the following questions and show your steps. Q1(a). The spot price of the market index is $1000. A 6-month forward contract on this index is priced at $1030. What is the payoff to a short position if the spot price of the market index rises to $1020 by the expiration date? (b). The spot price of the market index is $1000. A 6-month forward contract on this index is priced at $1030. What is the payoff to a short position if the spot price of the market index rises to $1080 by the expiration date? (c). The spot price of the market index is $1000. You hold a European put option on the index with a strike price of $1030 that expires in 6-months. Will you exercise the put if the spot price of the market index rises to $1020 by the expiration date? Why? (d). The spot price of the market index is $1000. You hold a European put option on the index with a strike price of $1030 that expires in 6-months. Will you exercise the put if the spot price of the market index rises to $1080 by the expiration date? Why