Suppose you Sell a stock today at $384 for 1,000 shares and Buy a 1 year futures contract for 1,000 shares at $389.5. 1 year interest rate is 4.66%. What is your profit/loss at expiration if the stock price goes to $395? (Ignore transaction costs). Show the detailed steps.

Select one:

a.$12,818

b.$10,368

c.$11,000

d.none of the above

e.-$5,500