You Are a Jewelry Maker

You are a jewelry maker. Every September you purchase 15,000 troy ounces of silver. Today, you hedged your position at what turned out to be the highest price for the day. Assume that the actual price per troy ounce of silver is 10.361 at the time you make the purchase in September. You would have _____ if you had not hedged your position.

Silver - 5,000 troy oz.; $ per troy oz.

A) saved $2,250
B) saved $2,880
C) spent another $450
D) spent another $2,250
E) spent another $2,880