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Answer the following question: Suppose that on day 1, a Japanese Yen future contract is purchased at the 117 per $ (opening price). Contract is

Answer the following question:

Suppose that on day 1, a Japanese Yen future contract is purchased at the 117 per $ (opening price). Contract is for $ 1,500. Initial margin level is 15,000, and maintenance level is 10,500. Forming a table show daily marking to market adjustments for this future contract using the given opening or settle prices

(ASSUMPTION: As margin account reaches above the initial margin level, withdraw the amount above the initial margin level)

Day Opening or Settle Price

1 Open 117/$

1 Settle 121/$

2 Settle 127/$

3 Settle 117/$

4 Settle 112/$

Please form a table.

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