On 3 February 20XX, the quoted price of the March 20XX 90-day bank bill futures contract was 99.19. John Lowe believed that interest rates would increase over the next month and he entered into four bank bill futures contracts in a position consistent with that view. On 10 February 20XX, he closed out his position at a quoted price of 99.07. Ignoring transaction costs, how much has John Lowe made (or lost)?

A) -$294.62

B) $1178.50

C)$998,006.72

D)$294.62

E)None of the above answers is correct.