Daikon Co.

Hello Sir,

I’m currently preparing for the September exam and had a question regarding Daikon Co. from the Kaplan kit.

As per your lectures, in interest rate futures, we divide the gain/loss on futures by 400, but I don’t see that Kaplan kit answer has done the same? In another question, they had divided it by 4. Obviously the answer is completely different if this step is performed. Could you please help me understand why in certain question it’s done and in Daikon its not?

Thanks for your time.