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1. A trader enters into a one-year forward contract to buy an asset for $590 when the spot price is $600. The spot price at

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1. A trader enters into a one-year forward contract to buy an asset for $590 when the spot price is $600. The spot price at the maturity of the contract turns out to be $550. What is the trader's profit from the forward contract? Note: A gain is represented by a positive number, a loss is represented by a negative number. Please do not include any symbols other than the decimal point, such as the $ or % sign, or any text in your

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