It is now June. A company knows it will sell 5,000 barrels of crude oil in September. It uses the October CME Group oil futures contract to hedge the price it will receive. Each contract is on 1,000 barrels of light sweet crude"

In the example above assume the spot and futures prices end up as follows: June (now) September Spot ($/barrel) 60 62 October oil Futures ($/barrel) 63 62.50 a. What net price is received in September if the company is a seller in spot market with a futures hedge? b. What net price is paid in September if the company is a buyer in the spot market with a futures hedge?

- I only need the answer to the second part of the question, thank you!