The margin requirement on the S&P 500 futures contract is 10%, and the stock index is currently 1,100. Each contract has a multiplier of $50.

a. How much margin must be put up for each contract sold?

Margin ______?

b. If the futures price falls by 1% to 1,089, what will happen to the margin account of an investor who holds one contract? (Input the amount as a positive value.)

Margin account _________ by _______________