What is the closing value on this day for one August futures contract on ethanol? Ethanol - 29,000 U.S. gallons: dollars and cents per gallon

Question

Quizplus · Accepted Answer

To calculate the closing value, we need to multiply the price per gallon by the number of gallons. Therefore, the calculation would be: 
Price per gallon = dollars and cents per gallon = $1.974
Number of gallons = 29,000
Closing value = Price per gallon x Number of gallons = $1.974 x 29,000 = $57,420. Therefore, the correct answer is B.

What Is the Closing Value on This Day for One