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What is the profit/loss on a 1-Year long forward EUR contract? The size of the contract is EUR 350,000; the amount of the contract is USD 423,500; and X1USD/EUR = 1

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What is the profit/loss on a 1-Year long forward EUR contract? The size of the contract is EUR 350,000; the amount of the contract is USD 423,500; and X1USD/EUR = 1.16?

A. Gain USD 11,026

B. Gain USD 17,500

C. Loss USD 17,500

D. Loss USD 11,026