Juanita exports coffee from Costa Rica to New Orleans. She lines up a buyer who agrees to purchase 150,000 pounds of coffee in March of 2021 at "March +6." Today, the March 2021 coffee futures contract is trading for 224 cents per pound. For purposes of this exam question, fast forward to late March 2021 where we see that Juanita and the buyer have agreed to lock in their final price based on the new March 2021 futures contract price which is now 87 cents per pound. Assume that Juanita hedged her position properly, based on everything we learned in class. How much money did Juanita make as a combination of the gain or loss on the futures side of the transaction and her sell of coffee to the buyer on the physical side of the transaction?

	I.	$86,250
	II.	$345,000
	III.	$139,500
	IV.	$205,500