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Use the following corn futures quotes: Corn 5,000 bushels Contract Month Mar May July Sep Open 455.125 467.eee 477.000 475.000 High 457.000 468.000 477.580 475.500

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Use the following corn futures quotes: Corn 5,000 bushels Contract Month Mar May July Sep Open 455.125 467.eee 477.000 475.000 High 457.000 468.000 477.580 475.500 Low 451.750 463.000 472.500 471.750 Settle 452.000 463.250 473.eee 472.250 Chg -2.750 -2.750 -2.000 -2.000 Open Int 597,913 137,547 153, 164 29,258 Suppose you buy 20 of the September corn futures contracts at the last price of the day. One month from now, the futures price of this contract is 462.75, and you close out your position. Calculate your dollar profit on this investment. (A negative value should be indicated by a minus sign. Do not round intermediate calculations. Round your answer to 2 decimal places.) Dollar profit

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