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Mr. Lecourt sells short one contract for September delivery of 125,000 euro for $134,375. Mr. Lecourt covers his short when the exchange rate is $1.15

Mr. Lecourt sells short one contract for September delivery of 125,000 euro for $134,375. Mr. Lecourt covers his short when the exchange rate is $1.15 per euro. Mr Lecourt:

A.loses $143,750.

B.loses $18,750.

C.gains $143,750.

D.loses $8,375.

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