Mary decides to buy a Treasury note futures contract for delivery of $100,000 face amount in September, at a price of 12031.0. At the same time, Eric decides to sell a Treasury note futures contract if he can get a price of 12031.0 or higher. The exchange, in turn, agrees to sell one Treasury note contract to Mary at 12031.0 and to buy one contract from Eric at 12031.0. The price of the Treasury note decreases to 1207.5. Calculate Eric's gain/loss.

Please note that loss should be entered with minus sign.

Round the answer to two decimal places.