Parfum P$$trochimique $($PP$)$ is concerned about a possible increase in the price of heavy fuel oil, which is one of its major inputs. If PP could use either options or futures contracts to protect itself against a rise in the price of crude oil, compute the payoffs in each case would vary if the oil price were $$50,$ $$60,$ or $$70$ a barrel. Assume the current price of oil is $$50$ per barrel, the futures price is $$60,$ and the option exercise price is $$60.$