Use the information below to answer questions 1-5 Say that the Chicago Mercantile Exchange (CME) has established a futures contract on Chocolate Donuts. The contract has the following characteristics: Contract Size: 5,000 units Expiration date: November 30, 2019 Opening Price: $1.10 per donut Initial margin: 10% 3. Assume that on November 30, 2019 the donut contract closes at $.98. What was your overall profit or loss on this trade? a. loss of $450 b. profit of $600 c. loss of $630 d. profit of $1,120 4. You establish a long position in the S&P 500 Futures contract at a price of 2,800, with a close of December 31, 2018. The contract multiplier is $250. On December 31, 2018, the S&P 500 closes at 2,850. What is your profit or loss on the transaction? a. profit of $50 b. profit of $2,850 c. loss of $12,500 d. profit of $12,500 5. Which of the following best describes the role of the CME in this transaction? a. Broker b. Clearinghouse c. Dealer d. Market Maker