24. A bank customer will be going to London in June to purchase £100,000 in new inventory. The current spot and futures exchange rates are as follows:

Exchange Rates (Dollars/Pound) Period Rate Spot 1.5342 March 1.6212 June 1.6901 September 1.7549 December 1.8416 The customer enters into a position in June futures to fully hedge her position. When June arrives, the actual exchange rate is per pound. How much did she save?