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A trader takes a position in a futures contract to sell 125,000 at $1.20/1. The initial performance bond was 2 percent of the USD contract

A trader takes a position in a futures contract to sell 125,000 at $1.20/1. The initial performance bond was 2 percent of the USD contract value. The maintenance performance bond was 90 percent of the initial performance bond. Above/below what settlement price will the investor receive a margin call?

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