$10.$ On June $15,$ a US firm anticipates that it will need A$$500,000$ in August to pay for its order of supplies from an Australian supplier. Consequently, it purchases a futures contract for this amount $($for August $18$ settlement$).$ On June $15$ this contract was priced at $$0\mathrm{.}63$ per A$$.$ On July $7,$ the American firm realizes that it will not need to order the supplies any more. It consequently sells the contract to offset the contract it purchased in June $($for August settlement$).$ At this time the futures contract is priced at $$0\mathrm{.}60$ per A$$.$ Show how much profit or loss was made on this futures transaction by the American company.