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Josh Rink considers himself a shrewd commodities investor. Not long ago he bought one July cotton contract at $0.59 a pound, and he recently sold
Josh Rink considers himself a shrewd commodities investor. Not long ago he bought one July cotton contract at $0.59 a pound, and he recently sold it at $0.66 a pound. How much profit did he make? What was his return on invested capital if he had to put up a $1,420 initial deposit? (There are 50,000 pounds in one contract for cotton.) Josh's profit is $ (Round to the nearest dollar.) If he had to put up a $1,420 initial deposit, the return on invested capital is %. (Round to two decimal places.)
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