1. [1 point] On January 5th, Eric sells 15 July 2021 Wheat contracts when the price is 640.25 US cents per bushel. What would be Eric's total gain/loss if the position was closed out on February 1*, at a price of 633.75 US cents per bushel? Each contract is for 5,000 bushels. 2. 13 points) Assume the initial margin on crude oil is $4,980 per contact and the maintenance margin is $4,525 per contract. Adam entered into a short futures position on crude oil in the April 2021 contract. Each contract is for 1,000 barrels. Determine at what price Adam will experience a margin call? The current price is $55.81 per barrel. Adam has 7 contracts. 3. [1 point) Each Copper contract is for 25,000 pounds. Kylle enters into a long position in a March Copper futures contract on November 27" when the price is $3.4180. If the price on February 2 is $3.5240, what is her total gain/loss on 4 contracts