As it turns out, you were correct when you purchased

3

contracts for feeder cattle at

72.4,

as the spot price on cattle rose to

82.9

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

8%.

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

Question content area bottom

Part 1

The amount of money made, or your profit, is

$1575015750.

(Round to the nearest dollar.)

Part 2

Your return on invested capital is

enter your response here%.

As it turns out, you were correct when you purchased 3 contracts for feeder cattle at 72.4, as the spot price on cattle rose to 82.9 on the delivery date given in your contracts. You are required to put down 8%. How much money did you make? What was your return on invested capital? (There are 50,000 pounds in one contract for feeder cattle.) The amount of money made, or your profit, is $ (Round to the nearest dollar.) Your return on invested capital is \%. (Round to two decimal places.)