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Use the following corn futures quotes: Corn 5,000 bushels contract open Low Settle Chg Open Int Month Mar May July sep 455.125 457.000 451.750 452.000 -2.750 597,913 467.000 468.000 463.000 463.250 -2.750 137,547 477.000 477.500 472.500 473.000 -2.000 153,164 475.000 475.500 471.750 472.250 -2.000 29,258 Suppose you buy 24 of the September corn futures contracts at the last price of the day. One month from now, the futures price of this contract is 463.5, and you close out your position. Calculate your dollar profit on this investment. (A negative value should be indicated by a minus sign. Do not round intermediate calculations. Round your answer to 2 decimal places.) Answer is complete but not entirely correct. Dollar proft s (9.581.25)3

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