1. Today you bought (long) a Eurodollar futures contract (contract size: $1 million) at 96.54. Two days later you sold the contract at 96.74. As a result
a) you received $500 in cash and paid $1 million to the buyer.
b) you paid $500 in cash and received $1 million from the buyer.
c) you received $500 in cash and closed your position on the futures contract.
d) you paid $500 in cash and closed your position on the futures contract.
2. Which of the following represent potential tax gains from an acquisition?
I. A reduction in the level of debt
II. An increase in surplus funds
III. The use of net operating losses
IV. An increased use of leverage
I and IV only
II and III only
III and IV only
I and III only