Question 40 (4 points) On Tuesday, an elevator enters into the corn futures market with 1 contract at a price of $6.50/bu to protect the purchase price of corn. The initial margin is $1,280 per contract and the minimum maintenance margin is $1,160 per contract. On Wednesday, the price decreases to $6.40/bu. Does the elevator need to make a margin call on Wednesday? And if so, for how much? 4 Show your work along the way for partial credit