You decided to speculate in the market and sold 7 platinum futures contracts when the futures price was $408 per troy ounce. The price on the contract maturity date was $400. The contract size is 50 troy ounces. What was your total profit or loss on the settlement day if you had to cover your position in the spot market? Show your answer to the nearest $. Do not use $ or , signs in your answer. Use a - sign if you lose money.