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EQ2 Q4 Emma and Carter enter into a forward contract for 150 ounces of gold at $1,291 per ounce. Emma is long and Carter is

EQ2 Q4

Emma and Carter enter into a forward contract for 150 ounces of gold at $1,291 per ounce. Emma is long and Carter is short. On the delivery date, the spot price of gold is $1,314.

If the contract is cash settled, what is Emma's total cash flow (not per ounce) on the delivery date? For example, if Emma pays $789, answer -789; if Emma receives $789, answer 789.

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