Q4 Q5 Louis deposits $8,000 of margin and takes a short position in 8 corn futures contracts, covering 5000 bushels each, on Monday. Louis' trade price and the closing futures price on Monday are both $3.9050 per bushel. The initial and maintenance margins are $1000 and $800, respectively, per contract. The daily interest rate is 1.1 basis points per day on Monday and Tuesday and 1.2 bp per day on Wednesday. There are no transaction costs.

On Tuesday, Wednesday and Thursday, the closing futures prices are $3.8375, $3.9925, and $4.0025 per bushel, respectively. Assume that Louis meets any margin call received each of the three days. Find Louis' margin account balance Thursday after the market closes and any margin call is met.