To equalize the cash portion of assets under management, a portfolio manager enters into along futures position on the S&P 500 Index with a multiplier of 250. The cash position is$5,000,000, which at the current futures value of 1,000 requires the manager to be long 20contracts. If the current initial margin is $12,500 per contract, and the current maintenancemargin is $10,000 per contract, the variation margin the portfolio manager needs to advanceif the futures contract value falls to 985 at the end of the first day of the position is closest to:

A.$25,000

B.$30,000

C.$50,000

D.$75,000