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Company A enters into a forward contract to purchase 1 6 , 0 0 0 barrels of oil at $ 4 8 ? barrel in

Company A enters into a forward contract to purchase 16,000 barrels of oil at $48? barrel in 6 months. What is the net gain or loss if the spot price of oil is $53? barrel at expiration?
-$48,000
$80,000
$32,000
$0
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