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A hedger takes a short position in 10 T-bill futures contracts at the price of 97 10 /32. Each contract is for $100,000 principal. When

A hedger takes a short position in 10 T-bill futures contracts at the price of 97 10 /32. Each contract is for $100,000 principal. When the position is closed, the price is 9898 12/32.

The hedger incurs a -------------- of $ ----------

A- gain

B- loss

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