Your boss has just informed you about the new product she intends to offer to the clients of the Golden Bank you work for. The new product, called Gold-linked guaranteed investment certificate (GL- GIC), will offer the following payoff to the investors. If the return on gold between now and the maturity of the GL-GIC is more than 10%, the rate of return will be equal to the return on gold less 10%. If the return on gold is less than 10%, the investors will receive the amount invested i.e., zero return). The time to maturity of the GL-GIC will be 5 years. The current interest rate on the 5-year Treasury note is 4%. The current gold price is $1700 per ounce. To replicate the payoff from GL-GIC you would (a) Sell a put option on gold with X = $1,870 and buy Treasury notes with face value of $1,700 (b) Buy a call option on gold with X = $1,700 and buy Treasury notes with face value of $1,700 (c) Sell a put option on gold with X = $1,700 and buy Treasury notes with face value of $1,700 (d) Buy a call option on gold with X = $1,870 and buy Treasury notes with face value of $1,700