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1 0 . Suppose you buy a 5 , 0 0 0 - bushel July Soybean futures contract at $ 1 2 . 0 0

10. Suppose you buy a 5,000-bushel July Soybean futures contract at $12.00/bushel. At the end of the day, your long position remains open and the Soybean futures contract has a daily settlement price equal to $11.50/bushel. The risk-free rate is 0.5 percent (0.5%). What is the daily profit or loss on your long Soybean futures position?

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