OneChicago has just introduced a new single stock futures contract on the stock of Brandex, a company that currently pays no dividends. Each contract calls for delivery of $3,000$ shares of stock in one year. The T$-$bill rate is $5\backslash \%$ per year.

Required:

a$.$ If Brandex stock now sells at $\backslash (\backslash$$ $300\backslash )$ per share, what should the futures price be$?($Round your answer to $2$ decimal places.$)$

Futures price

b$.$ Brandex stock now sells at $\backslash (\backslash$$ $300\backslash )$ per share. If the Brandex stock price drops by $\backslash (3\mathrm{.}0\backslash \%\backslash ),$ what will be the new futures price and the change in the investor's margin account? $($Input all amounts as positive values. Do not round intermediate calculations. Round your answers to $2$ decimal places.$)$

New futures price

Investor's margin account

c$.$ Brandex stock now sells at $\backslash (\backslash$$ $300\backslash )$ per share. If the margin on the contract is $\backslash (\backslash$$ $75,000\backslash ),$ what is the percentage return on the investor's position, if the Brandex stock price drops by $\backslash (3\mathrm{.}0\backslash \%\backslash )?($Negative amount should be indicated by a minus sign. Do not round intermediate calculations. Round your answer to $2$ decimal places.$)$

Percentage return