A futures contract on Treasury bond futures with a December expiration date currently trade at $103$:$06.$ The face value of a Treasury bond futures contract is $$100,000.$ Your broker requires an initial margin of $10$ percent.

Refer to Exhibit $15\mathrm{.}8.$ If the futures contract is quoted at $105$:$08$ at expiration, calculate the percentage return.

a$.1\mathrm{.}99$ percent

b$.19\mathrm{.}99$ percent

c$.25\mathrm{.}37$ percent

d$.-13\mathrm{.}65$ percent

e$.20\mathrm{.}62$ percent