A financial analyst working for a mining company is evaluating the potential cash flow and associated accounting effects from a 3-year hedging strategy targeting the firm’s copper production. This hedge was established by selling 100 futures contracts, each with a three-year duration, at a price of USD 3.00 per pound of copper as of December 31, 2022. Each contract corresponds to a quantity of 25,000 pounds of copper. The analyst reviews the following data related to the futures prices:

Date	Futures price (USD)
December 31, 2022	3.00
December 31, 2023	2.95
December 31, 2024	3.10
December 31, 2025	3.15

Considering that the firm utilizes hedge accounting and reports cash flows resulting from variation margins on the hedge at the end of each year, what is the most precise estimate for the cash flow reported on December 31, 2024?