Consider an investment that is long 10 S&P 500 Index futures contracts at a price of $3,100.00. The initial margin requirement is $36,000 per contract and the maintenance margin is $30,000 per contract . The annual risk-free rate is zero.

Upon opening the position you deposit $500,000 into your futures trading account.At what S&P 500 Index futures price will a margin call occur?

A.$2,300 B.$3,300 C. $1,244 D.$1,100 E.$2,540