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Eric has just purchased a heating oil contract at $ 2 . 0 5 per gallon. The contract size is 2 1 , 0 0

Eric has just purchased a heating oil contract at $2.05 per gallon. The contract size is 21,000 gallons.
Initial margin is $6,075; maintenance margin is $4,500. If the price of heating oil is $2.15 when the
contract expires, Eric's percentage profit or loss is
A)4.88% profit
B)4.88% loss
C)9.23% loss
D)34.57% profit
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