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A gold mining firm is concerned about short-termvolatility in its revenues. Gold currently sells for $1,620 anounce, but the price is extremely volatile and could fall as low as$1,500 or rise as high as $1,700 in the next month. The companywill bring $4,000 ounces to the market next month. a.What will total revenues be if the firm remainsunhedged for gold prices of $1,500, $1,620, and $1,700 anounce? Gold price$1,500$1,620$1,700 Total revenues$$$ b.The futures price of gold for 1-month-aheaddelivery is $1,630. What will be the firm’s total revenues at eachgold price if the firm enters a 1-month futures contract to deliver$4,000 ounces of gold? Goldprice$1,500$1,620$1,700 Total revenues$$$ c.What will total revenues be if the firm buys a1-month put option to sell gold for $1,620 an ounce? The puts cost$8 per ounce.Gold price$1,500$1,620$1,700 Total revenues$$$