The prices of the individual options comprising the call spread described below.

The midmarket "breakeven" price of the call spread.

Given the midmarket "breakeven" price you calculated in question $(1)$ above, what will be your offered price to the client? Explain your reasoning.

The notional amount of the $1\mathrm{.}625\%$ of $\frac{3}{3}\frac{?}{2026}$ you need initially to hedge your bank's position in the call spread, assuming you can transact your hedge at the $5$:$00$ pm price on Thursday March $3^{rd}.$ Do you need to buy or sell bonds to hedge?

What happens to your risk exposure if yields move up a lot?

Explain your reasoning for all answers and be sure to clearly state your units in all numerical answers. You may submit supporting documents and$/$or spreadsheets for your answers to the questions above, but please present your answers to the first four questions in this format...

$\backslash$table$[[$Midmarket price for $180$ bp strike $($$$),],[$Midmarket price for $200$ bp strike $($$$),],[$Midmarket price for the call spread $($$$),],[$Offered price for the call spread $($$$),],[$Initial hedge,Buy or sell?$],[$Notional amount?$]]$