The futures price of a commodity such as wheat is $12.50 a bushel. Futures contracts are for 10,000 bushels, and the margin requirement is $2,500 a contract. A speculator expects the price of the commodity to rise and enters into one contract to buy wheat. 2 points each

How much must the speculator initially remit (margin)? _______________

If the futures price rises to $15.90, what is the percent return on the position?

% ____________

If the futures price declines to $9.25, what is the percent loss on the position?

% ____________