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Suppose that it is now May 15. A producer of electronic circuit boards requires 47.9 ounces of gold on September 15 to manufacture an order.

Suppose that it is now May 15. A producer of electronic circuit boards requires 47.9 ounces of gold on September 15 to manufacture an order. The futures price for September delivery is $1725.6 per ounce and suppose that the spot price on September 15 turns out to be $1667.9. What is the overall cost of the 47.9 ounces of gold for this producer? a. 82656 b. 2764 c. 79950 d. 79892

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