1. Suppose that on September 05, 2019, a company takes a short position in one April 2020 live-cattle futures contract. One contract is for the delivery of 50,000 pounds of cattle. The initial margin for each contract is $3,000 and the maintenance margin is $2,000. The futures price (per pound) is 153.00 cents when it enters into the contract.
   1. If the settlement price at the end of the day is $151.90 cents per pound, what is the balance of the margin account after marking to market on that day? Is a margin call triggered?

2. If the settlement price at the end of the second day is 153.40 cents per pound, what is the balance of the margin account after marking to market on that day? Is a margin call triggered?