Problem:
Jane purchased a T-bond futures contract on 12/03/10. The futures price was 103.12. On 01/03/11, the futures price was 104.18. The contract size is 100 par value bonds. The par value is $1,000.
Requirement:
Question 1: What is Jane's unrealized gain or loss during this one-month period?
Note: Please describe comprehensively and provide step by step solution.