Eric has just purchased a heating oil contract at 205 per, Financial Management

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Eric has just purchased a heating oil contract at 205 per

Eric has just purchased a heating oil contract at $2.05 per gallon. The contract size is 21,000 gallons. Initial margin is $6,075; maintenance margin is $4,500. If the price of heating oil is $2.15 when the contract expires, Eric's profit or loss is? Show work.

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Financial Management: Eric has just purchased a heating oil contract at 205 per

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