FIGURE 2.11 Corn futures prices in the Chicago Board of Trade, September 17, 2014 Score: Data from The Wall Street Journal Online September 17, 2014 CHG -20 MONTH Dec '14 Mar '15 May '15 Jul 15 Sep '15 Dec '15 LAST 341'6 3540 3624 3696 3772 3882 -16 -14 20 16 OPEN 3432 3554 3640 3712 3780 3894 HIGH 3442 3560 3642 3712 3780 3900 LOW 3392 3510 3594 3666 3750 3854 VOLUME 74580 19416 6153 5171 1791 3876 OPEN INT 796121 201794 51800 76051 20972 99741 Look at the futures listings for corn in Figure 2.11. a. Suppose you buy one contract for March 2015 delivery at the closing price. If the contract closes in March at a price of $3.63 per bushel what will be your profit or loss? (Each contract calls for delivery of 5,000 bushels.) (Round your answer to 2 decimal places.) Profit of $ b. How many March 2015 maturity contracts are outstanding? Number of outstanding contracts