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Assume that a T - bill futures contract is purchased at a price of $ 9 6 . 9 9 per $ 1 0 0

Assume that a T-bill futures contract is purchased at a price of $96.99 per $100 face value. At settlement, the price of T-bills is $95.38. What is the norminal profit (+) or loss(-)?
Answer: $________(Do not round intermediate calculations and enter your answer rounded to 2 decimal places.)

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