The multiplier for a futures contract on a stock market index is $60. The maturity of the contract is 1 year, the current level of the index is 1,820, and the risk-free interest rate is 0.6% per month. The dividend yield on the index is 0.3% per month. Suppose that after 1 month, the stock index is at 1,840, and to simplify matters that the interest rate yield and dividend yield curve are both flat. a. Find the cash flow from the mark-to-market proceeds on a long contract. Assume that the parity condition always holds exactly. (Do not round intermediate calculations. Round your answer to 2 decimal places.)

b. Find the holding-period return if the initial margin on the contract is $5,200. (Do not round intermediate calculations. Round your answer to 2 decimal places.)