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1. For the following options on Dec 18 corn futures, calculatethe breakeven point and draw the pay-off diagram.a) Writing a put with a $4.00 strike price and a premium of$0.27b) Holding a put with a $4.00 strike price and a premium of$0.27c) Writing a call with a $4.10 strike price and a premium of$0.18d) Holding a call with a $4.10 strike price and a premium of$0.18