Suppose you buy one contract for Jul-16 delivery. If the contract closes in Jul-16 at a level of 3.89, what will your profit be? (Do not round intermediate calculations. Round your answer to 2 decimal places.)

Table 2.8 Maturity Date Futures Price Corn futures prices on the Chicago Mercantile Exchange, May 10, 2016 July 2016 September 2016 December 2016 March 2017 May 2017 July 2017 $3.81 3.83 3.88 3.96 4.02 4.07 Source: www.cmegroup.com