Q4 Q1 Taylor takes a long position in one corn futures contract, covering 5000 bushels, on Monday. Taylor's trade price and the closing futures price on Monday are both $3.9025 per bushel. The initial and maintenance margins are $875 (which is also the amount in Taylor's margin account to begin with) and $700, respectively, per contract. The daily interest rate observed on Monday is 1.4 basis points per day. There are no transaction costs. On Tuesday, the closing futures price is $4.3550 per bushel. Find Taylor's closing margin account balance on Tuesday.