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Alfred takes the short position on 1 0 oil futures contract at a futures price of $ 7 5 per barrel. Each contract is on

Alfred takes the short position on 10 oil futures contract at a futures price of $75per barrel. Each contract is on 1,000 barrels of oil. Settlement prices on the next 4days are given as follows:Day Price1 $75.502 $793 $774 $75The exchange enforces an initial margin requirement of 10% and a maintenancemargin of 5%. The minimum amount that Alfred must deposit in his futures margin account totake his desired positionis closest to:A. $75,000B. $37,500C. $750,000

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