A farmer expects to harvest 5,000 bushels of soybeans in October.In April, when the spot price of soybeans was $10.80 /bushel, he hedged his entire crop with futures contracts 5000bu/c at 1065.

George lifts the hedge in October. The spot price of Soybeans is now $11.69 /bushel and the basis is now $0.05

His profit (loss) on his futures position is $

His revenue (expenditure) on the spot market is $

His net revenue (expenditure) is $

His effective price per bushel is $