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00 Problem 3-12 Futures Quotations (LO3, CFA4) Use the following corn futures quotes: points Contract Month Mar May July Sep Corn 5,000 bushels Open High

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00 Problem 3-12 Futures Quotations (LO3, CFA4) Use the following corn futures quotes: points Contract Month Mar May July Sep Corn 5,000 bushels Open High Low Settle 455.125 457.000 451.750 452.000 467.000 468.000 463.000 463.250 477.000 477.500 472.500 473.000 475.000 475.500 471.750 472.250 eBook Chg Open Int -2.750 597,913 -2.750 137,547 -2.000 153,164 -2.000 29,258 Print Suppose you sell 18 of the May corn futures at the high price of the day. You close your position later when the price is 467.625. Ignoring commission, what is your dollar profit on this transaction? (Do not round intermediate calculations. Round your answer to 2 decimal places.) References Dollar profit $ 337,500.00

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