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4 A finance manager enters into a short cotton futures contract...

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Finance

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A finance manager enters into a short cotton futures contract when the futures price is 45.37 cents per pound. The contract is for the delivery of 20,000 pounds. The manager holds his/her position to the end of the contract and the cotton price at the end of the contract is 43.20 cents per pound. How much does the manager gain or lose? 0 USD 434 0 USD -434 0 USD 43,400 0 USD -43,400

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