A speculator believes that the price of oil will rise during the next three months:$-$ On February $12,2024,$ she takes a speculative position in five NYMEX September $2024$ Light Sweet Crude Oil futures contracts $($CME Group$).$ Each contract covers $1,000$ barrels.

The futures price at which the speculator enters the contract is $$55,04$ per barrel. The initial margin is $$9,375$ and the maintenance margin is $$7,500.($Note that you must determine whether the speculator should be long or short in the contract based on her stated expectations.$)$

If the trader closes out the position when the futures price is $$59\mathrm{.}62,$ what will be her dollar gain or loss on the total position $($five contracts$)?$

Report your answer in dollars and cents to two decimal places.

Answer: