1 Suppose today is March 27, 2018, and your firm produces breakfast cereal and needs 160,000 bushels of corn in July 2018 for an upcoming promotion. You would like to lock in your costs today because you are concerned that corn prices might go up between now and July. Use Table 25.2 10 points a. What is the total price are you locking in for the 160,000 bushels of com based on the day's closing price? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.) b. Suppose corn prices are $4.32 per bushel in July, What is the profit or loss on your futures position? (Enter your answer as a positive value. Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.) Answer is complete but not entirely correct. a TOLN cost 2,000 b. Profit 6,500 Pares Contracts Potre un Future BUN BRIBE ile hahanda 8 49 999 98 U DOS Interest Rate F POGO DO NA 4 ke HE tal an 15 DE BUENOM - Swame. 40 TS HU BUG NO Fedon . NY Harbor LSDM 2011 DULCD UOROCCO KO HG MOT Batt ROSSAN Ett WOWT St AEWWE MWEN ENT Nct UZ NEKE sor EN BRA MWEN DI U SNIS wa ca EN IN Carretas .YOD SOCO HONDURAS AN 21 Natural Gas 2002 20 2209 310 IN Agnisathan Carnom UN Cats D-4000 Me 25 Seyhanson My MS See More ITS ROM:30 PM Seyranicom EN SC ut KUT LONDON DOO DODAO WY an Rice DU When M 0 My Wh. wo Mwe WORDS SOROWOT GF. Re IS IN SEPSE GU. EL HLAND- LOGO 2000 M. - Com DEN USD Cole USB s ver R H > WT ENT AT w UN 1 Suppose today is March 27, 2018, and your firm produces breakfast cereal and needs 160,000 bushels of corn in July 2018 for an upcoming promotion. You would like to lock in your costs today because you are concerned that corn prices might go up between now and July. Use Table 25.2 10 points a. What is the total price are you locking in for the 160,000 bushels of com based on the day's closing price? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.) b. Suppose corn prices are $4.32 per bushel in July, What is the profit or loss on your futures position? (Enter your answer as a positive value. Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.) Answer is complete but not entirely correct. a TOLN cost 2,000 b. Profit 6,500 Pares Contracts Potre un Future BUN BRIBE ile hahanda 8 49 999 98 U DOS Interest Rate F POGO DO NA 4 ke HE tal an 15 DE BUENOM - Swame. 40 TS HU BUG NO Fedon . NY Harbor LSDM 2011 DULCD UOROCCO KO HG MOT Batt ROSSAN Ett WOWT St AEWWE MWEN ENT Nct UZ NEKE sor EN BRA MWEN DI U SNIS wa ca EN IN Carretas .YOD SOCO HONDURAS AN 21 Natural Gas 2002 20 2209 310 IN Agnisathan Carnom UN Cats D-4000 Me 25 Seyhanson My MS See More ITS ROM:30 PM Seyranicom EN SC ut KUT LONDON DOO DODAO WY an Rice DU When M 0 My Wh. wo Mwe WORDS SOROWOT GF. Re IS IN SEPSE GU. EL HLAND- LOGO 2000 M. - Com DEN USD Cole USB s ver R H > WT ENT AT w UN