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4. Clayton entered into four lumber contracts. Each lumber futures contract is for 110,000 board feet. The contract requires an initial margin of $3,300 per

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4. Clayton entered into four lumber contracts. Each lumber futures contract is for 110,000 board feet. The contract requires an initial margin of $3,300 per contract and a maintenance margin of $2,200 per contract. Prices are in US dollars per 1,000 board feet. Complete the following chart: Day 1 Price 415.7 Settle Price Day Gain Cumulative Gain Margin Balance Margin Call 2 3 4 5 6 7 8 9 10 11 12 13 14 15 414.9 413.1 407.3 403.6 397.1 401.4 399.5 392.5 407.3 411.9 413.6 409.2 410.9 415.7 414.1 418.2 16 17

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