60 days ago you ordered 100,000 of wine (cash position) from France for September delivery and you hedged your exposure to a possible euro price change by engaging one euro contract (125,000) with an exchange rate of 1.02/1. Now you are having to pay for your wine (100,000) but the exchange rate is $1.06/1. What is your net cost of buying the wine from France? Show how you engaged the Futures contract (buy or sell), what the cash position cost you, and the gain or loss on the Futures contract.