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A company enters into a short futures gold contract to sell 100 ounces of gold for $1280 per ounce. The initial margin is $3420 per

A company enters into a short futures gold contract to sell 100 ounces of gold for $1280 per ounce. The initial margin is $3420 per contract, and the maintenance margin is $2180 per contract.

1) What price change would lead to a margin call?

2) What is the margin call price?

3) What circumstances could $1500 can be withdrawn from the margin account?

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