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A trader sold short a cotton futures contract @ 65.93 cents per pound. Contract size is 50,000 pounds. How much does the trader gain or

A trader sold short a cotton futures contract @ 65.93 cents per pound. Contract size is 50,000 pounds. How much does the trader gain or lose in DOLLARS if he closed out his contract when futures price is 54.5 cents per pound. Keep zero decimal points. If it is a loss, please enter a negative number.

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