31 You have decided to purchase 31 oil futures contracts at a settle price of $54.05 per barrel. Each futures contract has a standard size of 1,000 barrels and an initial margin requirement of $6,486. a. What is the leverage factor associated with these contracts? (Do not round Intermediate calculations. Round your answer to 2 decimal places.) Leverage b. If oil rises to $55.95 per barrel, what is the total percentage return on your futures position? (Do not round Intermediate calculations. Round your answer to 1 decimal place.) Levered rebum c. What is the total percentage return on your futures position ioll falls to $52.90 per barrel? (A negative value should be indicated by a minus sign. Do not round Intermediate calculations. Enter your answer as a percent rounded to 1 decimal place.) Lavorem x