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Lew Purchased Four December Futures Contracts on Cotton at the Closing

Question 54

Multiple Choice

Lew purchased four December futures contracts on cotton at the closing price yesterday and sold them today at the high. What is Lew's profit or loss on this investment?


A) -$100
B) $560
C) $1,120
D) $2,240
E) $4,580

Correct Answer:

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