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Farmer Inc. takes a short position in one corn futures contract. The futures price (per bushel) is $3.95 when it enters into the contract and

Farmer Inc. takes a short position in one corn futures contract. The futures price (per bushel) is $3.95 when it enters into the contract and the price of corn is $3.42 per bushel when it closes out its position. One contract is for the delivery of 5,000 bushels. What is the companys total profit?

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