Suppose an investor has a $1 million long position in T-bond futures. And suppose the investor's broker requires an initial margin of 7% and a maintenance margin of 3%. The account currently has an initial margin of $70,000. Further suppose the value of the contract drops to $960,000. Which of the following is FALSE? $30,000 is in the margin account after it is marked to market. The new maintenance margin is $28,800. $40,000 will be taken from his margin account. The investor will receive a margin call. The new initial margin is $67,200