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Kellogg's needs 400,000 tons of corn each year for its cereal products. The company is concerned about the increase in prices of corn and decided

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Kellogg's needs 400,000 tons of corn each year for its cereal products. The company is concerned about the increase in prices of corn and decided to use a forward contract to buy corn at $325 per ton next year. If the market price of corn turns out to be $305 per ton next year, what will be the benefit of hedging of the forward contract? $130,00,000$8,000,000$122,000,000$8,000,000

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