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8) Mr. Lecourt sells short one contract for September delivery of 125,000 euro for $134,375. Mr. Lecourt covers his short when the exchange rate is

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8) Mr. Lecourt sells short one contract for September delivery of 125,000 euro for $134,375. Mr. Lecourt covers his short when the exchange rate is $1.15 per euro. Mr Lecourt A) loses $8,375. B) loses $18,750. C) loses $143,750. D) gains $143,750. Answer: A

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