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1. A company enters into a long futures contract to buy 50,000 units of a commodity for 70 cents per unit. The initial margin is

1. A company enters into a long futures contract to buy 50,000 units of a commodity for 70 cents per unit. The initial margin is $4,000 and the maintenance margin is $3,000. What is the futures price per unit below which there will be a margin call?

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