On July 1, 2006, a US company enters into a forward contract to buy 10 million GBP
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On July 1, 2006, a US company enters into a forward contract to buy 10 million GBP on January 1, 2007. On September 1, 2006, it enters into a forward contract to sell 10 million GBP on January 1, 2007. Describe the profit or loss the company will make in dollars as a function of the forward exchange rates on July 1, 2006, and September 1, 2006.
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