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A farmer sells futures contracts at a price of $2.60 per bushel on 10,000 bushels of corn. The spot price of corn is $2.55 at

A farmer sells futures contracts at a price of $2.60 per bushel on 10,000 bushels of corn. The spot price of corn is $2.55 at contract expiration. What is the farmer's profit on the futures contracts?

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