A gasoline distributor buys a gasoline futures contract that requires acceptance of 42,000 gallons of gasoline at $0.94/gallon. How is the account marked-to-market if gasoline futures close the next day at $0.97/gallon? ____

A) A gain of $12,600 is posted to the account

B) A loss of $12,600 is posted to the account

C) A gain of $1,260 is posted to the account

D) A loss of $1,260 is posted to the account