A gold-mining firm is concerned about short-term volatility in its revenues. Gold currently sells for $1,597 an ounce, but the price is extremely volatile and could fall as low as $1,517 or rise as high as $1,677 in the next month. The company will bring 1,000 ounces to the market next month. What will be total revenues if the firm remains unhedged for gold prices of $1,517, $1,597, and $1,677 an ounce?The futures price of gold for delivery one month ahead is $1,607. What will be the firm?s total revenues at each gold price if the firm enters into a one-month futures contract to deliver 1,000 ounces of gold?What will total revenues be if the firm buys a one-month put option to sell gold for $1,597 an ounce?The put option costs $113 per ounce.