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Assume Juan bought 32 ounces of gold for $7,040 as protection against rising inflation. He sold half the gold in 1980 at a price of

Assume Juan bought 32 ounces of gold for $7,040 as protection against rising inflation. He sold half the gold in 1980 at a price of $490 an ounce. Juan sold the other half in 1982 when the price was $400 an ounce.

What was Juans profit in 1980 and in 1982?

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