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On March 1 the price of coffee is $10595 and the July futures price is $10448 On June 1 the price of coffee is 51

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On March 1 the price of coffee is $10595 and the July futures price is $10448 On June 1 the price of coffee is 51 0998 and the July futures prices $1.0811 Roasters Inc entered into a futures contracts on March 1 to hedge the purchase of coffee on June 1. It closed out its position on June 1 After taking account of the cost of hedging. what is the effective price paid by the company for the coffee

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