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ABC is currently in a swap contract. As part of the contract, ABC will purchase 170 units of Corn 3 months from now at a

ABC is currently in a swap contract. As part of the contract, ABC will purchase 170 units of Corn 3 months from now at a price of $2.66 per unit, and buy 297 units of Corn 9 months from now at a price of $2.34 per unit. The yearly CCIR is 3.29.

Suppose that the spot price of corn is $5.68 and $7.77 at the time of the two deliveries.

What is the PV of the payoff from the Swap?

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