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A speculator opens a short position in October soybean futures. The current soybean spot price is 1232 and the current October soybean futures price is

  1. A speculator opens a short position in October soybean futures. The current soybean spot price is 1232 and the current October soybean futures price is 1286. The speculator will open a futures position in 40 contracts. In September, the October soybean futures price is 1305. What is the value of the speculators margin account in September?

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