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anuary 1 , 2 0 2 3 , Wildhorse Inc. agrees to buy 3 kg of gold at $ 3 8 , 0 0 0

anuary 1,2023,Wildhorse Inc. agrees to buy 3kg of gold at $ 38,000per kilogram from Golden Corp. on April 1,2023,but does not intend to take delivery of the gold. On the day that the contract was entered into, the fair value of this futures contract that trades on the Futures Exchange was zero. On January 1,2023,Wildhorse is required to deposit $ 70with the stockbroker as a margin. The fair value of the futures subsequently fluctuated as follows: On the settlement date, the spot price of gold is $ 39,000per kilogram. Assume that Wildhorse complies with IFRS.

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