Transcribed image text: The current value of an S&R futures is $1480.01. You buy 8 futures on the S&R and the contract size is $362. The margin is settled on a monthly basis and the margin is 15% of the notional value. Margin calls are made as soon as the margin is below 77% of the initial margin level. We assume that = 8% and observe the following futures prices: 4 Month Futures Price 0 $1480.01 2 $1384.80 3 $1463.50 $1422.82 $1600.86 Find the monthly margin balance (a) at time 0. (b) at time 1. (c) at time 2. (d) at time 3 (e) at time 4. (A) 642912.34 (B) 642916.34 (C) 642915.34 (D) 642913.34 (E) 642914.34 (a): Select f Part (a) choices (A) 481594.53 (B) 481598.53 (C) 481595.53 (D) 481596.53 (E) 481597.53 (b): Select 1 Part (6) choices (A) 374705.97 (B) 374708.97 (C) 374709.97 (D) 374706.97 (E) 374707.97 (0) Select I Part() choices (A) 605133.58 (B) 605131.58 (C) 605134.58 (D) 605132.58 (E) 605130.58 460) Select T Part (d) choices (A) 1006970.83 (B) 1006973.83 (C) 1006971.83 (D) 1006974.83 (E) 1006972.83 4(0) Select Part (e) choices