Time left 1:52:37 This question has two parts. Show all calculations a. It is now June 2022. Irene, a wheat farmer, expects a 2500 tonne crop, due for harvest in October, 2022. A wheat futures contract is for 50 tonne and the price today of an October 2022 wheat futures contract is $450 per tonne. Irene decides to hedge all of her wheat, so as to protect herself from fall in the wheat price between now and October when she expects to sell her crop. Assume that in October, 2022, the auction price of wheat is $425 per tonne and the October wheat futures contract is trading at $420 per tonne. Calculate the value of Irene's net proceeds in October 2022, including how many contracts she bought in futures and the profit or loss from her futures trading. 7 marks b. The following information regarding option quotes is available in June 2022 for Vase Ltd: June 2022 Vase Ltd Last sale price $33.50 Puts-Expiry Strike Price Jan 2023 Feb 2023 Jan-2023 Feb 2023 $35.00 $1.83 $1,90 $1.20 $1.58 Safi buys 20 of the February, 2023 call contracts. If on the expiration date, Vase Ltd shares are selling for $37.90 per share, what his net gain or net loss? (Show answers correct to 2 decimal places.) 3 marks B I U X x >