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Suppose Darnell expects interest rates to increase and purchases a put option on Treasury bond futures from Eleanor. The exercise price on Treasury bond futures

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Suppose Darnell expects interest rates to increase and purchases a put option on Treasury bond futures from Eleanor. The exercise price on Treasury bond futures is 96-00. The put option is purchased at a premium of 4-00. Assume that interest rates do increase and, as a result, the price of the Treasury bond futures contract decreases over time to a value of 8600 shortly before the option's expiration date. If Damell decides to exercise the option, his profit will be The profit that Eleanor will make will be

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