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As it turns out, you were correct when you purchased 4 contracts for feeder cattle at $1.488, as the spot price on cattle rose to

As it turns out, you were correct when you purchased

4

contracts for feeder cattle at

$1.488,

as the spot price on cattle rose to

1.626

on the delivery date given in your contracts. You were required to put down

11%.

How much money did you make? What was your return on invested capital? (There are 50,000 pounds in one contract for feeder cattle.)

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