Your utility company will need to buy 105 comma 000 barrels of oil in 10 days time, and it is worried about fuel costs. Suppose you go long 105 oil futures contracts, each for 1 comma 000 barrels of oil, at the current futures price of $ 60.00 per barrel. Suppose futures prices change each day as follows

What is the mark-to-market profit or loss (in dollars) that you will have on each date?

Calculate the mark-to-market profit or loss below: (Round price change to the nearest cent and profit or loss to the nearest dollar.)

Day	Price		Price Change		Profit/Loss
1	$59.50	$		$

(Round price change to the nearest cent and profit or loss to the nearest dollar.)

Day	Price		Price Change		Profit/Loss
2	$57.50	$		$

(Round price change to the nearest cent and profit or loss to the nearest dollar.)

Day	Price		Price Change		Profit/Loss
3	$57.75	$		$

(Round price change to the nearest cent and profit or loss to the nearest dollar.)

Day	Price		Price Change		Profit/Loss
4	$58.00	$		$

(Round price change to the nearest cent and profit or loss to the nearest dollar.)

Day	Price		Price Change		Profit/Loss
5	$59.50	$		$

(Round price change to the nearest cent and profit or loss to the nearest dollar.)

Day	Price		Price Change		Profit/Loss
6	$60.50	$		$

(Round price change to the nearest cent and profit or loss to the nearest dollar.)

Day	Price		Price Change		Profit/Loss
7	$60.75	$		$

(Round price change to the nearest cent and profit or loss to the nearest dollar.)

Day	Price		Price Change		Profit/Loss
8	$59.75	$		$

(Round price change to the nearest cent and profit or loss to the nearest dollar.)

Day	Price		Price Change		Profit/Loss
9	$61.75	$		$

(Round price change to the nearest cent and profit or loss to the nearest dollar.)

Day	Price		Price Change		Profit/Loss
10	$62.50	$		$

b. What is your total profit or loss after

1010

days? Have you been protected against a rise in oil prices?

Summing the daily profit/loss amounts, the total is a gain of