You take a speculative long position in 5 January frozen concentrated orange juice (FCOJ) futures at a price of 129.55/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 121.85/lb. prior to expiration? (Round answer to 2 decimal places. Do not round intermediate calculations)