Question: A forward contract has been signed to realize the purchase and sale of 500 kg of wheat 6 months later at a price determined today.

A forward contract has been signed to realize the purchase and sale of 500 kg of wheat 6 months later at a price determined today. If the forward price for 1 kg of wheat is determined as 6 TL in the contract, calculate the profit or loss for both the contract buyer and the contract seller in case the spot price is 8 TL per kg after 6 months.

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