Question: One year ago, you signed a forward contract in which you agreed to buy GBP 27,391 for USD at a rate of USD 1.771 per

One year ago, you signed a forward contract in which you agreed to buy GBP 27,391 for USD at a rate of USD 1.771 per GBP. Today, the spot rate is USD 1.494 per GBP. What are your dollar profits or losses compared to purchasing your GBP on the open market? Please give an answer to the nearest dollar.

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