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Use the following corn futures quotes: Corn 5,000 bushels High Open Int 597,913 137,547 153,164 29,258 Contract Month Open Settle Chg Low Mar 455.125 457.000

Use the following corn futures quotes: Corn 5,000 bushels High Open Int 597,913 137,547 153,164 29,258 Contract Month Open Settle Chg Low Mar 455.125 457.000 451.750 452.000 -2.750 May July Sep 467.000 468.000 463.000 463.250 -2.750 473.000 -2.000 477.000 477.500 472.500 475.000 475.500 471.750 472.250 -2.000 Suppose you sell 14 of the May corn futures at the high price of the day. You close your position later when the price is 467.250. Ignoring commission, what is your dollar profit on this transaction? (Do not round intermediate calculations. Round your answer to 2 decimal places.) Answer is complete but not entirely correct. Dollar profit 10.50 Use the following corn futures quotes: Corn 5,000 bushels High Open Int 597,913 137,547 153,164 29,258 Contract Month Open Settle Chg Low Mar 455.125 457.000 451.750 452.000 -2.750 May July Sep 467.000 468.000 463.000 463.250 -2.750 473.000 -2.000 477.000 477.500 472.500 475.000 475.500 471.750 472.250 -2.000 Suppose you sell 14 of the May corn futures at the high price of the day. You close your position later when the price is 467.250. Ignoring commission, what is your dollar profit on this transaction? (Do not round intermediate calculations. Round your answer to 2 decimal places.) Answer is complete but not entirely correct. Dollar profit 10.50

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