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A trader use futures to speculate on the British pound. Each contract is for 62,500. If the trader sells 7 pound futures at $1.4228/ and

A trader use futures to speculate on the British pound. Each contract is for 62,500. If the trader sells 7 pound futures at $1.4228/ and the spot rate at maturity is $1.3980/, then what is the value of the position at maturity?

-$10,850

-$1,550

+$1,550

+$10,850

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