TODAY'S SETTLEMENT PRICE ON A CHICAGO MERCANTILE EXCHANGE (CME) YEN FUTURES CONTRACT IS $0.8011/YEN100. YOUR MARGIN ACCOUNT CURRENTLY HAS A BALANCE OF $2000. THE NEXT 3 DAYS' SETTLEMENT PRICES ARE:

DAY 1: $0.8057/YEN100

DAY 2: $0.7996/YEN100

DAY 3: $0.7985/YEN100

(THE CONTRACTUAL SIZE OF THE CME YEN CONTRACT IS 12,500,000 YEN)

IF YOU HAVE A SHORT POSITION IN ONE FUTURES CONTRACT, THE CHANGES IN THE MARGIN ACCOUNT FROM DAILY MARKING-TO-MARKET WILL RESULT IN THE BALANCE OF THE MARGIN ACCOUNT AFTER THE THIRD DAY TO BE:

Select one:

a. $3,425

b. $2,325

c. $1,425

d. $2,000