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1. You buy 15 wheat futures contracts when the futures price is $2.61 per bushel (each contract is for 5,000 bushels). The price on the

1. You buy 15 wheat futures contracts when the futures price is $2.61 per bushel (each contract is for 5,000 bushels). The price on the maturity date is $2.21. What is your payoff?

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