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Suppose you enter into a forward contract to sell 15 000 pounds of orange juice...

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Suppose you enter into a forward contract to sell 15 000 pounds of orange juice in January 2023 at a forward price of 129 3 cents per pound If the spot price of orange juice on maturity date turns out to be 121 0 cents per pound what would be your payoff per pound at maturity as the short position in this contract Show one decimal place Hint The answer may be negative or positive depending on the comparison of the forward and spot prices

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