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On March 31, a company takes a short position in May futures on 100,000 bu of corn at $4.663/bu. The size of one contract
On March 31, a company takes a short position in May futures on 100,000 bu of corn at $4.663/bu. The size of one contract is 5,000 bu. The initial margin is $3,894 per contract and the maintenance margin is $3,523. What settlement price at the end of trading on March 31 would result in the exchange depositing $2,747 to the company's margin account in the process of daily settlement?
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Financial Reporting and Analysis
Authors: Flawrence Revsine, Daniel Collins, Bruce, Mittelstaedt, Leon
6th edition
9780077632182, 78025672, 77632184, 978-0078025679
