Calculate the dollar gain or loss on Treasury bond futures contracts ($100,000) per contract for the following transactions. In each case the position is held 6 months before closing it out.

a. Sell 10 T-bond contracts at a price of 82—80 and buy 10 at 76—12.

b. Sell 10 T-bond contracts at a price of 80—14 and buy 10 at 77.

c. Buy 15 T-bond contracts at 62-10 and sell 15 at 64-24.

d. Sell one T-bond contract at 70—14 and buy one at 78—08.