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ABC plc has a 10 million loan that is replaced every six months. To hedge against an expected increase in interest rates, ABC plc

ABC plc has a 10 million loan that is replaced every six months. To hedge against an expected increase in interest rates, ABC plc opens a position in short sterling interest rate futures at a price of 95.5. When closing out the position later the price is 94.75. Calculate ABC plc's amount of profit/loss from the future trades.

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