OneChicago has just introduced a single$-$stock futures contract on Brandex stock, a company that currently pays no dividends. Each

contract calls for delivery of $2,500$ shares of stock in $1$ year. The T$-$bill rate is $9\%$ per year.

a$.$ If Brandex stock now sells at $$110$ per share, what should the futures price be$?($Round your answer to $2$ decimal places.$)$

Futures price

b$.$ If the Brandex price drops by $6\%,$ what will be the new futures price and the change in the investor's margin account? $($Round

"Futures price $($new$)"$ answer to $3$ decimal places and other answer to the nearest dollar amount. Negative amount should be

indicated by a minus sign.$)$

Futures price $($new$)$

Change in the investor's margin account

c$.$ If the margin on the contract is $$13,700,$ what is the percentage return on the investor's position? $($Round your answer to $2$ decimal

places. Negative amount should be indicated by a minus sign.$)$

Percentage return on the investor's position