FINANCE-Elliott Company sold one T-Bill futures contract

Elliott Company sold one T-Bill futures contract when the quoted price was 93.25. When the position was closed out, the price of the T-Bill futures contract was 94.12.Did interest rates increase or decrease? How do you know?What was Elliott’s profit or loss from this contract (ignoring transaction costs)?Assume that Elliott was speculating, did the company benefit from (or was it hurt by) this transaction? Explain (very) briefly.Assume that Elliott was using this contract to hedge. Did Elliott benefit from, or was it hurt by, this transaction? Explain (very) briefly.

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