Question: One year ago, you signed a forward contract in which you agreed to buy GBP 17,973 for USD at a rate of USD 1.615 per

One year ago, you signed a forward contract in which you agreed to buy GBP 17,973 for USD at a rate of USD 1.615 per GBP. Today, the spot rate is USD 1.938 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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