Question: One year ago, you signed a forward contract in which you agreed to buy 2,133British pounds today at a price of USD 2.00 per GBP.

One year ago, you signed a forward contract in which you agreed to buy 2,133British pounds today at a price of USD 2.00 per GBP. The spot rate is currently USD 1.54 per GBP. What is your profit or loss on the forward contract compared to buying on the open market? Please give your answer to the nearest US dollar.

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