Use Figure 23.7 . Suppose the LIBOR rate when the first listed Eurodollar contract matures in December 2017 is 0.7%. What will be the profit or loss to each side of the Eurodollar contract? (Do not round intermediate calculations and round final answer to 2 decimal places. Enter the amount as positive value.)

Open Contract High hilo Low Settle Chg Open interest Eurodollar (CME)-$1,000,000; pts of 100% Sept 99. 1200 99.1275 A 99.1075 99.1175 -0.0025 Dec 99.0450 99.0550 99.0250 99.0350 -0.0100 March 17 99.0 150 99.0200 98.9800 98.9950 -0.0150 Dec 98.9050 98.9150 98.8600 98.8750 -0.0300 1,046,998 1,488,878 1,117,165 1,367,955 Figure 23.7 Eurodollar futures, September 9, 2016 Source: The Wall Street Journal, September 10, 2016. Open Contract High hilo Low Settle Chg Open interest Eurodollar (CME)-$1,000,000; pts of 100% Sept 99. 1200 99.1275 A 99.1075 99.1175 -0.0025 Dec 99.0450 99.0550 99.0250 99.0350 -0.0100 March 17 99.0 150 99.0200 98.9800 98.9950 -0.0150 Dec 98.9050 98.9150 98.8600 98.8750 -0.0300 1,046,998 1,488,878 1,117,165 1,367,955 Figure 23.7 Eurodollar futures, September 9, 2016 Source: The Wall Street Journal, September 10, 2016