Suppose that on March 3 a trader bought a NYMEX Crude Oil futures contract (1000 barrels) at a price of $85.25 per barrel. Four weeks later the trader closed out this contract at a price of $104.80 per barrel. The profit (or loss) on this transaction was?

Group of answer choices

$19,550 profit

$19.55 profit

$104,800 profit

$19,550 loss