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2. Mary Daly takes a long position in a 9-month forward contract on oil. The current spot price for one bbl. of oil is 49.00.

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2. Mary Daly takes a long position in a 9-month forward contract on oil. The current spot price for one bbl. of oil is 49.00. The 9-month forward price for one bbl. of oil is 51.50 . The continuously compounded risk-free rate is 9%. What is her profit on the forward contract if the actual price of oil at the end of 9 months is 53.00

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