Assume that one year ago, the spot rate of the Euro was $1.25. One year ago, the one-year futures contract of the Euro exhibited a discount of 3%. At that time, you sold futures contracts on pounds, representing a total of 600,000 Euros. From one year ago to today, the Euro’s value depreciated against the dollar by 4 percent. Determine the total dollar amount of your profit or loss from your futures contract. (Show any work)