19. The current level of the S\&P 500 is 4,300 . The dividend yield on the S\&P 500 is 2%. The risk-free interest rate is 1%. What should be the current price of a one-year maturity futures contract? 20. You purchase a Treasury-bond futures contract with an initial margin requirement of 30% and a futures price of $124,500. The contract is traded on a $100,000 underlying par value bond. If the futures price falls to $107,400, what will be the percentage loss on your position