Suppose that in September 2021 a company takes a long position in a contract on May 2022 crude oil futures. It closes out its position in March 2022. The futures price (per barrel) is $48.30 when it enters into the contract, $51.25 when it closes out its position, and $50.10 at the end of December 2021. One contract is for the delivery of 1,000 barrels. What is the companys total profit? When is it realized? (6 points)