Using the following information, calculate the total margin that the clearing house will require from the short side of the trade at the end of day $1.$

Transaction Equity Index Futures

Number of contracts traded $2$

Initial margin amount $($per contract$)15,000$

Contract size $($$$)500$ x Futures Price

Initial futures price $1,990$

Futures price at end of Day $12,005$

Initial margin paid by$?$ Both long and short

Select one:

$45,000\mathrm{.}0$

$37,500\mathrm{.}0$

$29,000\mathrm{.}0$

$15,000\mathrm{.}0$