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tom short sold 900 shares at 11/share. initial margin = 70%. . maintenance margin = 30%. . stock currently at 12.5/share. Whats his account equity?

tom short sold 900 shares at 11/share. initial margin = 70%. . maintenance margin = 30%. . stock currently at 12.5/share. Whats his account equity? . ignore margin interest

Spot price on wheat is 2625/ton. Futures price = 2627/ton. Basis is __.

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