Use the following to answer the next four questions.

You believe that soybean futures prices will increase over the next few days and you decide to use 5 soybean futures to trade based on your belief. Each futures contract has 5000 bushels of soybeans attached. The initial and maintenance margins are $2500 and $1800 per contract, respectively. The futures price for soybeans was $19.90/bushel the day you opened your position. The table below shows closing futures prices for the four days immediately after you opened your position

Day 1	Day 2	Day 3	Day 4
$19.88	$19.91	$19.95	$19.92

1. Find your initial margin balance on the day you opened your position (Day 0). Do not use currency symbols or words when entering your response.

2. Find your ending margin balance on Day 1. Assume deficits are eliminated to keep the position open and excesses remain in the account

3. Find your ending margin balance on Day 4

4. Find the total amount of variation margin that occurred from days 1-4