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1. Suppose you purchase five corn futures contracts. The contract size is 5,000 bushels and the price is quoted in cents per bushel. Assume the

1. Suppose you purchase five corn futures contracts. The contract size is 5,000 bushels and the price is quoted in cents per bushel. Assume the initial margin requirement is 6.5 percent of the contract value. What's the amount of the initial margin if the futures quote is 784?

A. $12,980 B. $13,348 C. $13,186 D. $12,740

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