I have answer but just don't know how to get it.

PROBLEM 2: On January 1, the listed spot and futures prices of a Treasury bond were 95.4 and 95.6. You sold $100,000 par value Treasury bonds and purchased one Treasury bond futures contract. One month later, the listed spot price and futures prices were 95 and 94.4, respectively. If you were to liquidate your position, your profits would be a a. $125 loss. b. $1,060.50 loss. c. $1,062.50 profit. d. None of the options are correct. ANSWER: On: bonds: $95,125 - $95,000 = $125; On futures: $94,125.00 - $95,187.50 = -$1,062.50; Net profits: $125 - $1,062.50; = -$937.50