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Heinz uses 2000 tons of corn syrup each year as an ingredient in its tomato ketchup products. Heinz is concerned about the increase in prices

Heinz uses 2000 tons of corn syrup each year as an ingredient in its tomato ketchup products. Heinz is concerned about the increase in prices ofcorn-based products and purchases afixed-price contract to buy corn syrup at $ 20 comma 000

$20,000 per ton. What is the impact on earnings before taxes as opposed to no hedging if the price of corn is $ 15 comma 000

$15,000 per ton over the nextyear?

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