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Please show work. Thank you! 13) Fred has just shorted 3 contracts of May wheat on the CBT. These are 5,000 bushel contracts. The initial

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Please show work. Thank you!

13") Fred has just shorted 3 contracts of May wheat on the CBT. These are 5,000 bushel contracts. The initial deposit for margin account is $1,500 per contract with a maintenance margin of $1,200. [1 point] What is Fred's total initial margin? (a) (b) How much of an increase in the price of wheat is necessary to cause a margin call

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