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(10) Turki has just sold (short) 3 contracts of May wheat on the Chicago Exchange. These are 5,000 bushel contracts. The initial deposit is $1,500

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(10) Turki has just sold (short) 3 contracts of May wheat on the Chicago Exchange. These are 5,000 bushel contracts. The initial deposit is $1,500 per contract with a maintenance margin of $1,200. (a) What is Turki's total initial margin? (b) How much of an increase in the price of wheat is necessary to cause a margin call

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