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Profit from T-bond Futures. Egan Company purchased a futures contract on Treasury bonds that specified a price of 91-00. When this position was closed out,

Profit from T-bond Futures. Egan Company purchased a futures contract on Treasury bonds that specified a price of 91-00. When this position was closed out, the price of the Treasury bond futures contract was 90-10. Determine the profit or loss, ignoring transaction costs.

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