(Forward contract payout)Construct a delivery date profit or loss graph for a short position in a forward contract with a delivery price of

$80.

Analyze the profit or loss for values of the underlying asset ranging from

$60

to

$105.

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Part 1

a.When the delivery price of the short forward contract is

$80

and the actual price at the time of delivery is

$60,

there is a profit (or loss) of

$ .

(Enter a negative number for a loss and round to the nearest dollar.)