please answer asap Look at the futures listings for corn in Figure 2.11. Suppose you buy one contract for December 2020 delivery at the closing price.Required:If the contract closes in December at a price of $4.05 per bushel, what will be your profit or loss? (Each contract calls for delivery of5,000 bushels.) (Round your answer to 2 decimal places.) FIGURE 2.11 Corn futures prices on the Chicago Mercantile Exchange, September 4, 2019Change HighMaturitySeptember-19-4.75003.5100December-19-3.50003.6300-3.25003.8400-2.25004.0025-2.00004.2000Last3.45003.57503.79253.97254.1875May-20December-20July-21Source: www.cmegroup.com, September 4, 2019.Low3.44503.56503.78503.97004.1825

December-20 (last price) = $3.9725 per bushelTarget price = $4.05 per bushel Number of contracts =…

Look at the futures listings for corn in Figure 2.11. Suppose you buy one contract for December 2020 delivery at the closing price. Required: If the contract closes in December at a price of $4.05 per bushel, what will be your profit or loss? (Each contract calls for delivery of 5,000 bushels.) (Round your answer to 2 decimal places.)