Conyers Bank holds U.S. Treasury bonds with a book value of $30 million. However, the U.S. Treasury bonds currently are worth $28,387,500. If the portfolio manager put on the hedge when T-bond futures were quoted at 89-00/32nds, what is the profit/loss on the futures position if the settlement price is 81-27/32nds? Profit of $2,146,875. Loss of $2,146,875. Profit of $1,270,000. Loss of $1,270,000. Loss of $812,700