Your company refines gasoline from crude oil and is worried that the current crack spread (gas -crude) will decrease and reduce your profits. To hedge this risk, what positions would you take today? If the current futures price for delivery of crude in 3 months is $35/barrel and the futures gasoline contract (delivery in 3 months) is $1/gallon (42 gallons = 1 barrel), calculate the profit/loss if you subsequently reverse these positions in 3 months at $33/bl for crude and 95 cents/gal for gasoline. Explain your result and check your answer. Repeat this if crude goes to $41/bl and gas is $1.05/gal.