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How do you compute this problem? Shiela bought 1 million Euros 6 months ago at a forward rate of 2.200 USD/EUR. This contract matures today.

How do you compute this problem?

Shiela bought 1 million Euros 6 months ago at a forward rate of 2.200 USD/EUR.

This contract matures today.

Spot exchange rate = 1.123 USD/EUR.

What is the profit from the forward contract in US dollars?

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