Question 29 (3:33 points On 1/30 at the end of the day. Joan sold (took a short position in) 1 futures contract fone contract is agreement to buy or sell Euros 45,500) at a rate of USD 1.35 per Euro. contract expires on 6/18. Initial margin=$1.330 and maintenance margin is $1.005. On 1/31 and 2/1. the futures rate expiring on 8/18 is USD 1.365, and USD 1.370 respectively. As per "Marked to Market daily mechanism of currency futures contracts, what shall be Joan's margin account balance at the end of 1/31(Assuming that Joan will not withdraw money from her margin account)? On 1/31, Joan received a margin call from the broker to deposit $357.5 to bring up her margin balance on 1/31 back to $1.005. On 1/31, Joan's margin balance was $647.5 due to the loss of $682.5 realized from the change in the futures rate, Oon 1/31, Joan's margin balance was $2.012,5 due to the gain of $682.5 realized from the change in the futures rate. On 1/31, Joan received a margin call from the broker to deposit $682.5 to bring up her margin balance on 1/31 back to $1.330. Question 30 (3.33 points) Continued from the above question, what was Joan's margin account balance at the end of 2/1(Assuming that Joan will not withdraw money from her margin account)? On 2/1, Joan's margin balance was $420.0 due to the loss of $227.50 realized from the change in the futures rate. On 2/1. Joan's margin balance was brought up to $2,240.0 due to the profit of $227.5 realized from the change in the futures rate. Oon 2/1, Joan did not receive any margin call to require additional deposit and her margin balance on 2/1 was $1,102.5 On 2/1, Joan received another margin call to deposit $910.0 to bring up her margin balance on 2/1 back to $1,330 On 2/1, Joan received another margin call to deposit $227.5 to bring up her margin balance on 2/1 back to $1005. Question 27 (3.33 points) If the spot rate at the time of maturity (i.e., on December 15th, 2020) is $1.56 per euro, what is the total amount paid by the Pandora corporation if it acts rationally (after accounting for the premium paid) when it uses apprppriate currencty options identified in the first question to hedge the payable? $103,740. O $103,075. O $101.415. $104,000 O $106,400 Question 28 (3.38 points) If an Australian firm desires to avoid the risk from exchange rate fluctuations, and it will receive C$200,000 (Note: "CS" stands for Canadian dollars) in 120 days from its business client in Canada, it could: sell Canadian dollars when it's due at the spot market with the spot rate. O purchase a 120-day call options on Canadian dollars. obtain a 120-day forward sale contract on Canadian dollars (i.e., sell a 120-day forward contract on Canadian dollars) O obtain a 120-day forward purchase contract on Canadian dollars (i.e. buy a 120- day forward contract on Canadian dollars)