You have purchased a futures contract for euros. The contract is for 125,000 euros, and the quote was $1.1527/.

On the delivery date, the exchange quote is $1.0756/. Assuming you took delivery of the euros, how many dollars would you have after converting back to dollars? What is your profit or loss (before commissions)?

After converting the euros back to dollars, you would have

$. enter your response here.

(Round to the nearest cent.)

Part 2

Your profit or loss (before commissions) is

$. enter your response here.

(Round to the nearest cent. Enter a positive number for a gain or a negative number for a loss.)