In September 2021 a company takes a long position in a contract on May 2022 gold futures. It closes out its position in March 2022 . The futures price (per ounce) is $1,353.50 when it enters the contract, $1,366.30 when it closes out its position, and $1,348.70 at the end of December 2021. One contract is for the delivery of 1,600 ounces. What is the company's total profit or loss? What is the company's total profit or loss if they close out early at the end of December 2021 ? Gain $20,480; Loss 7,680 Loss $28,160; Gain 20,480 Loss $20,480; Gain 7,680 Gain $28,160; Loss 20,480