You Expect to Deliver 250,000 Bushels of Corn to the Market

You expect to deliver 250,000 bushels of corn to the market in July. Today, you hedge your position at the closing price as shown in the table. Assume that the market price turns out to be 248.7 at the time you make your delivery in July. How much income will you receive in total from the hedged delivery of your corn?

Corn - 5,000 bu.; cents per bu.

A) $621,750
B) $624,500
C) $629,250
D) $630,250
E) $631,000