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Suppose you short 13 futures contracts of Silver (contract size = 5000 oz.)The futures price is $25.15 per ounce.The initial margin is: $10,500 per contract,

Suppose you short 13 futures contracts of Silver (contract size = 5000 oz.)The futures price is $25.15 per ounce.The initial margin is: $10,500 per contract, the maintenance margin is $9,000 per contract.

a) At what price level would you receive a margin call?

b) Calculate the price level that would allow you to withdraw $9,876 from your margin account?

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