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A trader enters into a (long) forward contract on 100 million yen. The forward exchange rate is $0.0080 per yen. How much does the trader

A trader enters into a (long) forward contract on 100 million yen. The forward exchange rate is $0.0080 per yen. How much does the trader gain or lose if the exchange rate at the end of the contract is (a) $0.0095 per yen; (b) $0.0065 per yen?

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