3. Jim entered into one euro currency futures contacts traded on the CME on January 2, 2020 to sell euros in June 2020 at the price of $1. 2700 for one euro or at the exchange rate of $1. 2700/. The contract size is 125, 000 per contract, the initial margin is set at $4,000 and the maintenance margin is $3,200. The daily settlement prices are given in the table on the next page. Can you calculate daily losses/gains, work out margin call dates and additional deposits daily margin account balances, and the cumulative loss/gain? Date Settlement Daily losses! Cumulative price gains losses/ gains Margin account balance without margin calls Margin Margin call account balance Jan 02. 1.2700 $4,000 Jan 05, 1.2765 Jan 06 1.2794 Jan 07 1.2693 Jan 08 1.2650