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Today on 16 March 2021, a US company gets an export order from a customer based in Spain worth Euro 15,575000. Revenue will be received

Today on 16 March 2021, a US company gets an export order from a customer based in Spain worth Euro 15,575000. Revenue will be received in three months. Today on 16 March 2021, it enters the currency future contract at State Bank for Euro 15,575000 at the exchange rate Euro1 = $0.97. On 17 March 2021 currency future price rises to Euro1 = $1.00. On 18 March 2021 currency future price falls to Euro1 = $0.88, whereas, on 19 March, the price rises to Euro1 = $0.92 and subsequently, the US company decides to close its position. Calculate gain/loss of the US Company.

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