Suppose Alan is a trader and wants to replicate the payoff as shown below. Suppose that Federal Reserve has the restriction that Alan can trade only calls and puts (with any strike price, but the same maturity T) on a stock. What portfolio of calls and/or puts would replicate the following payoffs at maturity? Show the payoff calculations. (i) Payoff 40 70 90 ST (ii) -40 Payoff 40 0 40 30 50 70 ST