The current spot exchange rate is and the three$-$month forward rate is $.$ You enter into a short

position on $.$ At maturity, the spot exchange rate is $.$ In an ex$-$post sense, it might seem like you

have either made a profit or made a loss. In this ex$-$post sense, how much profit or loss did you make? $($Short

position on a USD$/$EUR forward contract means that you agree to sell the base currency, EUR, at expiration date

at the forward rate$)($You don't experience a real loss or profit. The ex$-$post analysis just tries to answer a what$-$if

situation?$)$

Loss of $$100$

Loss of $$50$

Gain of $$150$

Gain of