Question
You take a speculative long position in 3 January frozen concentrated orange juice (FCOJ) futures at a price of 113.48/lb. Each FCOJ contract represents 15,000
You take a speculative long position in 3 January frozen concentrated orange juice (FCOJ) futures at a price of 113.48/lb. Each FCOJ contract represents 15,000 lbs.
If your account has an initial margin of 8%, what will be your dollar profit if you close out this position at 122.95/lb. prior to expiration? (Round answer to 2 decimal places. Do not round intermediate calculations)
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Multinational Business Finance
Authors: David Eiteman, Arthur Stonehill, Michael Moffett
15th Global Edition
129227008X, 9781292270081
