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Cobb Company sold one Treasury Bond futures contract (one) when the specified price was 93-25. When the position was closed out, the price of the

Cobb Company sold one Treasury Bond futures contract (one) when the specified price was 93-25. When the position was closed out, the price of the Treasury Bond futures contract was 95-12. What was Cobbs profit or loss from this contract (ignoring transaction costs)?

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