Look at the futures listings for corn in Figure 2.11. Suppose you buy one contract for December 2017 delivery at the closing price. If the contract closes in December at a price of $4.03 per bushel, what will be your profit or loss? (Each contract calls for delivery of 5,000 bushels.) (Round your answer to 2 decimal places.)

FIGURE 2.11 Maturity LAST CHG HIGH LOW Corn futures prices on the Chicago Mercantile Exchange, April 18, 2017 Source: www.cmcgroup.com, April 18, 2017 May '17 Jul '17 Sep '17 Dec '17 Mar '17 3.6125 3.6775 3.7525 3.8575 3.9575 -0.0525 -0.0550 -0.0475 -0.0450 -0.0400 3.6800 3.7450 3.8125 3.9 150 4.0025 3.6075 3.6725 3.7475 3.8525 3.9475