$1)$ Suppose that in September $2022,$ a company takes a long position in a contract on May $2023$ crude oil futures. It closes out its position in March $2023.$ The futures price $($per barrel$)$ is $$92\mathrm{.}3$ when it enters into the contract, $$95\mathrm{.}50$ when it closes out its position, and $$93\mathrm{.}20$ at the end of December $2022.$ One contract is for the delivery of $1,000$ barrels. Assume that the company has a December $31$ year$-$end.

a$)$ What is the company$$s total profit?

b$)$ When is it realized?

c$)$ How is it taxed if it is $($i$)$ a hedger and $($ii$)$ a speculator?