a. The maturity of a futures contract on a stock market index is 6 months. The multiplier for the futures contract $50. The current level of the index is 18,000 . The risk-free rate is 0.7% per month and dividend yield on the stock market index is 0.2% per month. The initial margin requirement is 10%. i. What is the parity value of the futures price now? ( 3 marks) ii. Assume the futures contract is fairly priced. How much initial margin you need to deposit if you long 2 contracts? ( 2 marks) iii. Calculate the one-month holding-period return for your long position in the futures contract if the stock market index increases to 19,500 after 1 month. Assume the futures contract keeps being priced fairly. ( 5 marks)