After seeing the recent huge drop in the share market, you expect the market to recover. You, therefore, traded futures on the ASX200 to speculate on your view. Specifically, you entered into ten September 2022 ASX200 futures contracts on 6th June 2022 when the futures price was 7,175 points. On 8th June 2022, you increased your exposure by entering into another eight September 2022 ASX200 futures contracts at the futures price of 7,065 points. Assume the initial margin required is $7,000 per contract and the maintenance margin is $3,500 per contract. Each index point is worth $50. You are provided with the following futures prices Date Opening price Last price Settlement price 6th June 2022 7,145 7,080 7,075 7th June 2022 7,073 7,050 7,045 8th June 2022 7,040 7,050 7,052 9th June 2022 7,050 7,060 7,062 Please note: although you have taken two positions (one on June 6th, one on June 8th), they are taken on the same September 2022 contract. As a result, the cash flow from one position may offset the cash flow from the other. You need to look at the overall margin account when answering the questions below. a) What is your margin account balance at the end of 8th June 2022? Please show all your detailed workings. b) Under what circumstances would you be able to withdraw a maximum amount of $40,000 from the margin account on 10th June 2022. Please show all your detailed workings. After seeing the recent huge drop in the share market, you expect the market to recover. You, therefore, traded futures on the ASX200 to speculate on your view. Specifically, you entered into ten September 2022 ASX200 futures contracts on 6th June 2022 when the futures price was 7,175 points. On 8th June 2022, you increased your exposure by entering into another eight September 2022 ASX200 futures contracts at the futures price of 7,065 points. Assume the initial margin required is $7,000 per contract and the maintenance margin is $3,500 per contract. Each index point is worth $50. You are provided with the following futures prices Date Opening price Last price Settlement price 6th June 2022 7,145 7,080 7,075 7th June 2022 7,073 7,050 7,045 8th June 2022 7,040 7,050 7,052 9th June 2022 7,050 7,060 7,062 Please note: although you have taken two positions (one on June 6th, one on June 8th), they are taken on the same September 2022 contract. As a result, the cash flow from one position may offset the cash flow from the other. You need to look at the overall margin account when answering the questions below. a) What is your margin account balance at the end of 8th June 2022? Please show all your detailed workings. b) Under what circumstances would you be able to withdraw a maximum amount of $40,000 from the margin account on 10th June 2022. Please show all your detailed workings