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1. On August 31,2022, you took a short position in December 2022 Crude Oil futures at a futures price of $88.31 per barrel. Suppose you

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1. On August 31,2022, you took a short position in December 2022 Crude Oil futures at a futures price of $88.31 per barrel. Suppose you close out your position on October 24,2022 , and suppose that the December 2022 Crude Oil futures price is $79.12 per barrel when you trade. You initially sold 5 contracts and each contract is written on 1,000 barrels. What is your profit (loss) from trading the futures

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