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Suppose that on September 5, 2021, a company takes a long position in four December 2021 crude oil futures contracts. One contract is for the

Suppose that on September 5, 2021, a company takes a long position in four December 2021 crude oil futures contracts. One contract is for the delivery of 1000 barrels of crude oil. The initial margin for each contract is $4,000 and the maintenance margin is $2,500. The futures price is $46.06 per barrel when the company enters into the contract. a. At the end of the first day, the settlement price at the end of the day is $46.23 per barrel: i) . Calculate the balance of the margin account. ? If the company receives a margin call at the end of the second day to deposit a variation margin of $6526, what is the settlement price at the end of the second day?

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