Ethanol Futures Contracts Are Based on 29,000 Gallons and Are

Multiple Choice

Ethanol futures contracts are based on 29,000 gallons and are priced in dollars per gallon. Assume the end-of-day report on a contract show prices of: Open 2.220, High 2.231, Low 2.181, and Settle 2.186. What is the maximum profit that an investor could have earned by buying and selling one of these contracts on this day?

A) $1,131
B) $1,450
C) $942
D) $2,436
E) $986