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Johnson Manufacturing shorted 15 futures contracts of a certain commodity for $20 per unit. Each contract had 10,000 units of the commodity attached and carried
Johnson Manufacturing shorted 15 futures contracts of a certain commodity for $20 per unit. Each contract had 10,000 units of the commodity attached and carried an initial and maintenance margin of $11,000 and $7,000, respectively. What is the highest value that the futures price can climb to before Johnson receives a margin call?
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