Assume that one year ago, the spot rate of the Euro was $1.30. One year ago, the one-year futures contract of the Euro exhibited a discount of 4%. At that time, you sold futures contracts on pounds, representing a total of 1,000,000 Euros. From one year ago to today, the Euro’s value depreciated against the dollar by 3 percent. Determine the total dollar amount of your profit or loss from your futures contract. (show work)