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Question 14 2 pts 100 futures contracts are used to hedge an exposure to the...

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Question 14 2 pts 100 futures contracts are used to hedge an exposure to the price of silver. Each futures contract is on 5,000 ounces of silver. At the time the hedge is closed out, the basis is $0.50 per ounce. What is the effect of the basis on the hedger's financial position if the contracts are hedging the purchase of silver? O $2,500 O $250,000 O $250,000 O-$2,500

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