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Determine the profit on a short hedge of 10,000 units of a foreign currency if the spot rate goes from $1.20 to $1.15 and the

Determine the profit on a short hedge of 10,000 units of a foreign currency if the spot rate goes from $1.20 to $1.15 and the futures rate goes from $1.25 to $1.24.

$400

-$400

-$100

$100

$500

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