Question $28$: A contract calls for delivery of $60,000$ pounds of soybeans @ $16$ cents a pound. What happens if the market price of soybeans closes the next day @ $18$ cents a pound?

a$)$ The contract is marked to market with a $$1,200$ loss.

b$)$ The contract is marked to market with a $$1,200$ gain.

c$)$ Futures contracts are voided if price increases before expiration.

d$)$ Nothing happens until the expiration of the contract.

e$)$ The contract is market with a gain of $$1,800.$