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Suppose that you took a short position on 12,500,000 Japanese Yen future (remember, a short position involves selling Yen) at a price of 104.5 Yen/$.

Suppose that you took a short position on 12,500,000 Japanese Yen future (remember, a short position involves selling Yen) at a price of 104.5 Yen/$. If the spot rate on the contract's expiration date was 103.45 Yen/$, calculate your profit/loss from the futures contract.

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