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George Seby is thinking about doing some speculating in interest rates. He thinks rates will fall and, in response, the price of Treasury bond futures

George Seby is thinking about doing some speculating in interest rates. He thinks rates will fall and, in response, the price of Treasury bond futures should move from -, their present quote, to a level of about . Given a required margin deposit of per contract, what would George's return on invested capital be if prices behave as he expects?

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