Egan Company purchased a futures contract on Treasury bonds that specified a price of 91-00. When this

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Egan Company purchased a futures contract on Treasury bonds that specified a price of 91-00. When this position was closed out, the price of the Treasury bond futures contract was 90-10. Determine the profit or loss, ignoring transaction costs.

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Financial Markets and Institutions

ISBN: 978-1337099745

12th edition

Authors: Jeff Madura

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Question Posted: Oct 31, 2017 08:00 AM

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Egan Company purchased a futures contract on Treasury bonds that specified a price of 91-00. When this

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Financial Markets and Institutions

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