What is your total profit

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Reference no: EM131404200

Suppose that on October 24, 2001. you take a short position in an April 2002 live-cattle futures contract. You close out your position on January 21. 2002. The futures price (per pound) is 61.20 cents when you enter into the contract, 58.30 cents when you close out your position, and 58.80 cents at the end of December 2001. One contract is fur the delivery of 40,000 pounds of cattle. What is your total profit? Flow is it taxed if you arc

(a) a hedger and

(b) a speculator?

Reference no: EM131404200

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