TPHB$,$ Inc. expects to sell $1\mathrm{.}1$ million barrels of crude oil in November and will hedge its position with the December futures contract. Today$$s crude oil spot price is $53\mathrm{.}50$ and the December crude oil futures price is $54\mathrm{.}27($crude oil futures prices are quoted in dollars per barrel$).$

d$.$ If the crude oil spot price in November is $54\mathrm{.}05$ when TPHB sells its crude oil and closes its futures position, what is the effective price per barrel it would receive if the December futures price is $54\mathrm{.}60?$ If it is $54\mathrm{.}10?$

e$.$ What is the basis in November when TPHB sells its crude oil if the futures price is $54\mathrm{.}60?$If it is $54\mathrm{.}10?$