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On February 8, a company enters into four short futures contracts to sell 20,000 bushels of wheat for 26 cents per bushel. Each contract is

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On February 8, a company enters into four short futures contracts to sell 20,000 bushels of wheat for 26 cents per bushel. Each contract is on 5,000 bushels of wheat. The initial margin is $2000 per contract and the maintenance margin is $1500 per contract. For the next three days, we can find the following information: At the end of February 8, the settlement price is 29 cents per bushel. At the end of February 9, the company receives a margin call to deposit a variation margin of $2508 into the margin account. Then, the company makes the deposit. At the end of February 10, the company is able to withdraw $1908 from the margin account. During the three days, the company does not enter into any other new positions or closes out any positions after the four contracts have been entered into. 1). Based on the above information, what is the balance of the margin account after marking to market at the end of February 87 Note: the answer should be in dollars. 2). Based on the above information, what is the settlement price at the end of February 9? Note: the answer should be in cents. Keep three decimal places. Answer: 3). Based on the above information, what is the settlement price at the end of February 10? Note: the answer should be in cents. Keep three decimal places. Answer: (Optional) You may use the space below to provide steps and explanations to the above calculations. This gives you the chance to get partial marks to the above questions if your answers above are incorrect. If your answers above are correct you will get full marks automatically

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