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Question 1 10 pts A trader buys five July futures contracts on crude oil. Each contract is for the delivery of 1,000 barrels. The
Question 1 10 pts A trader buys five July futures contracts on crude oil. Each contract is for the delivery of 1,000 barrels. The current futures price is 20.6 dollars per barrel, the initial margin is $9,000 per contract, and the maintenance margin is $6,500 per contract. What price change would lead to a margin call? Please enter the price below which a margin call will be triggered. Please do not round during intermediate steps, and round your final answer to 2 decimal places.
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