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The following table contains information extracted from the Hang Seng Index Futures Daily Market Report as of the end of the day on 3 September

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The following table contains information extracted from the Hang Seng Index Futures Daily Market Report as of the end of the day on 3 September 2021. Excerpts of Hang Seng Index Futures Daily Market Report as of 3 September 2021 Contract month Open price Daily high Daily low Settlement price Change compared to previous trading day (2 Sep 2021) Sep-2021 25.890 25.984 25.722 25.844 -179 Oct-2021 25.915 25.970 25.735 25.840 -179 Dec-2021 25,902 25,938 25,753 25.826 -179 Mar-2022 25.730 25.730 25.677 25.761 -178 Notes: 1 HSI futures contract multiplier: HKD50 per index point 2 Initial margin: HKD119.367 3 Maintenance margin: HKD95.493 a Compute the settlement price of the four contract-month futures contracts on previous trading day on 2 September 2021. (12 marks) b Suppose Mr Ho has longed three Oct-2021 futures contracts with its settlement price on 2 September 2021. Further suppose that he has a beginning balance of HKD400.000 in his margin trading account. Ignoring transaction cost, what should be the balance of his margin trading account after the market closes on 3 September 2021? (14 marks) With the maintenance margin of HKD95.493 per HSI futures contract, determine the minimum balance Mr Ho is required to keep in his margin trading account. Also, if the settlement price of the HSI Oct-2021 contract reaches a critical level, Mr Ho will be required by the clearing house to deposit additional cash to top up his account balance. Determine this critical level for Mr Ho's Oct-2021 long futures position

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