Delta (DAL) is trading for (about) 24 USD a share. In the problems that follow, consider a two-year forward contract. Ken Griffin (Citadel) goes long and John Overdeck (Two Sigma) goes short.

Suppose that Overdeck faces an initial margin requirement of 20% and a risk-free rate of 1%. If Delta's price falls from 24 USD today to 20 USD in one year, what is Overdeck's return in one year? Hint: compute the forward price today and the forward price in one year. If the return is 31.4%, enter 31.4. The amount of margin (in USD) will rise/fall by the amount that the forward price rises/falls.