FinTrade has just introduced a single$-$stock futures contract on Brandex stock, a company that currently pays no dividends. Each contract calls for delivery of $2,000$ shares of stock in one year. The T$-$bill rate is $5\%$ per year.

Required:

If Brandex stock now sells at $$200$ per share, what should the futures price be$?$

If the Brandex price drops by $3\%,$ what will be the change in the futures price and the change in the investor$$s margin account?

If the margin on the contract is $$11,600,$ what is the percentage return on the investor$$s position?