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(Hedging with forward contracts) The Specialty Chemical Company operates a crude oil refinery located in New Iberia, LA. The company refines crude oil and sells

(Hedging with forward contracts) The Specialty Chemical Company operates a crude oil refinery located in New Iberia, LA. The company refines crude oil and sells the by-products to companies that make plastic bottles and jugs. The firm is currently planning for its refining needs for one year hence. Specifically, the firm

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