On July 1, 2013, a Japanese company enters into a forward contract to buy $1 million with

Question:

On July 1, 2013, a Japanese company enters into a forward contract to buy $1 million with yen on January 1, 2014. On September 1, 2013, it enters into a forward contract to sell $1 million on January 1, 2014. Describe the profit or loss the company will make in dollars as a function of the forward exchange rates on July 1, 2013 and September 1, 2013.