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Suppose that you take a short position on 3 contract of Lean Hog Futures. The price is quoted as 1 0 8 . 5 2

Suppose that you take a short position on

3

contract of Lean Hog Futures. The price is quoted as

108.525 .

Each contract is for

40, 000

pounds and is quoted in cents per pound. If the initial margin requirement is

15 %,

how many dollars must you put into your margin account?

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